Pfizer Will Not Profit From 500 Million Doses of BioNTech Vaccine!

  Pfizer Will Not Profit From 500 Million Doses of BioNTech Vaccine! Mega Pharmaceutical Manufacturer Pfizer Will Help Millions of People Worldwide Without Profiting! Pfizer PFE (NYSE) $39,59 0,00 (%0,00) said last month that its COVID-19 vaccine will close to $26 billion in sales this year. Most of the figures cited are from sales supply agreements, while its partner BioNTech BNTX (NASDAQ) $218,17 0,00 (%0,00) has also entered into additional supply agreements. However, under the agreement, Pfizer will not earn a penny from the 500 million doses of vaccine.

Aim Help!

The US government announced last week that it will receive 200 million doses this year and 300 million doses in the first half of 2022 from the partnership of Pfizer and BioNTech. This agreement is in addition to and different from previous agreements. It is obvious that the USA does not need this much vaccine, the reason for getting it is that there is still an urgent need for the vaccine in other parts of the world. All 500 million doses of Pfizer-BioNTech vaccine will be donated by the US to the African region and nearly 100 low-income countries. "500 million doses will be provided at a nonprofit price," the company said in a press release.

Mega Pharmaceutical Manufacturer Pfizer Will Help Millions of People Worldwide Without Profiting!

What Does Pfizer Expect?

This pandemic has significantly improved Pfizer's public standing. Rising from 61st to 7th in the Institutional Reputation Survey, Pfizer and BioNTech will forego significant profits by not charging full price for vaccine supply in low-income countries under the latest agreement with the US government. Going forward, the Biden administration will not forget Pfizer's helpfulness when decisions regarding vaccine purchases are made for the US!

Right Movement

Due to this decision of the company, investors did not experience any fluctuations in their shares. Even if there was a small decrease, it was not due to the decisions made, but because of the market dynamics. By acting right, Pfizer shows that it does not forget that in the long run, well-being leads to good things for individuals as well as for companies.  

Source: The Motley Fool

 

You may also be interested in:

 

Why Is Amazon Stock Exploding?