Pfizer/BioNTech To Supply Additional 4M COVID-19 Shots To Europe: Reuters

The European Commission has reportedly reached a deal with Pfizer Inc (NYSE: PFE) and BioNTech SE (NASDAQ: BNTX) to supply an additional four million COVID-19 vaccine doses be delivered in March. 

• According to Reuters, this additional supply deal is expected to ease border movement and tackle virus hotspots.
• In February, the Commission announced a supply agreement with the companies for 200 million more doses of its COVID-19 vaccine committed to the EU through this year. 
• It previously committed to supplying 500 million vaccine doses to the EU by the end of 2021, with an option for another 100 million doses.
• The increase in dose deliveries this month is due to the successful expansion of manufacturing capacities in Europe, which was completed in mid-February.
• BioNTech started production at a new COVID-19 vaccine factory in Marburg, Germany, with an annual production capacity of up to 750 million doses, once fully operational.
• Earlier today, PFE and BNTX said that vaccine manufacturing capacity could increase to 3 billion doses in 2022.
• Price Action: PFE and BNTX shares are trading 0.9% and 2.8% higher at $34.8 and $99.2, respectively, in market trading hours on the last check Wednesday.