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Pfizer Sues Poland for €1.38 Billion Over Alleged Vaccine Deal Breach



Pfizer Sues Poland for €1.38 Billion Over Alleged Vaccine Deal Breach

(CTN News) – Poles started speaking out against the financial commitments made by Pfizer in their massive vaccine supply deal with the EU as the pandemic subsided earlier this year. Pfizer is now suing Poland, months after the nation requested a waiver from the fees associated with the 2021 deal.

Pfizer is officially suing Poland for allegedly not fulfilling its portion of the vaccine supply agreement, following what the company spokeswoman called a “prolonged contractual breach” and “lengthy discussions” with the country. “Hold Poland to its commitments,” the Pfizer representative stated in an email.

Poland allegedly did not pay for 60 million doses of the mRNA vaccine that Pfizer had developed in partnership with BioNTech, as reported by the Central European Times.

The magazine reports that Pfizer is requesting approximately €1.38 billion in compensation.

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May 2021 saw the signing of a massive EU supply deal between Pfizer and BioNTech, with the companies promising to ship 900 million doses in 2022 and 2023.

There was a potential opportunity for Europe to order an additional 900 million doses. European officials agreed to reserve an additional 200 million doses in December 2021, using their discretion.

To address falling shot demand, Pfizer and BioNTech adjusted their delivery contract with the EU in May; as a result, sales of their vaccine Comirnaty dropped by almost 35%.

According to a representative from Pfizer, a comparable modification was granted to Poland so that it could better meet its annual needs by spreading doses over several years.

However, after the COVID-19 pandemic subsided, many European nations, including Poland, realized they had taken too many doses.

Adam Niedzielski, Poland’s health minister, urged Pfizer to engage in “active corporate social responsibility” and alleviate the financial strains caused by the EU accord in early May.

The Financial Times stated that the parties were reportedly discussing partial payments for unnecessary and undeliverable medicines.

However, Niedzielski of Poland contended that the accusations would amount to “literally for unmanufactured doses that have not yet been and will never be produced and thus will not cost Pfizer a penny.” And Poland was not having any of it.

Meanwhile, COVID sales for Pfizer and BioNTech have been falling for a while, following high revenues during the pandemic.

Revenue for Pfizer’s third quarter was $13.23 billion, down 42% from $22.64 billion in the same period in 2022, according to the company’s report released late last month.

Pfizer also recorded a $4.2 billion revenue reversal associated with the scheduled return of approximately 7.9 million doses of the antiviral Paxlovid to the U.S. government, in addition to $5.6 billion in inventory write-offs and other expenses connected to the coronavirus.

BioNTech, on the other hand, just cut its revenue forecast for 2023 by 20%. After previously estimating 5 billion euros in sales for the year, the corporation is now projecting 4 billion euros ($4.3 billion).

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