AP source: US to buy 500M Pfizer vaccines to share globally

Wednesday, June 9, 2021 | Zeke Miller, Associated Press


In this Monday, Jan. 4, 2021 file photo, frozen vials of the Pfizer/BioNTech COVID-19 vaccine are taken out to thaw, at the MontLegia CHC hospital in Liege, Belgium. The U.S. will buy 500 million more doses of the Pfizer COVID-19 vaccine to share through the COVAX alliance for donation to 92 lower income countries and the African Union over the next year, a person familiar with the matter said Wednesday. President Joe Biden was set to make the announcement Thursday in a speech before the start of Group of Seven summit. (AP Photo/Francisco Seco, File)

WASHINGTON (AP) — The U.S. will buy 500 million more doses of the Pfizer COVID-19 vaccine to share through the global COVAX alliance for donation to 92 lower income countries and the African Union over the next year, a person familiar with the matter said Wednesday.

President Joe Biden was set to make the announcement Thursday in a speech before the start of the Group of Seven summit. Two hundred million doses — enough to fully protect 100 million people — would be shared this year, with the balance to be donated in the first half of 2022, the person said.

“We have to end COVID-19 not just at home — which we’re doing — but everywhere,” Biden said Wednesday in a speech to the U.S. military at Royal Air Force Mildenhall, the first stop of an eight-day, three-country foreign trip.

National security adviser Jake Sullivan told reporters Wednesday that Biden was committed to sharing vaccines because it was in the public health and strategic interests of the U.S. As Biden embarks on his first foreign trip, he is aiming to show “that democracies are the countries that can best deliver solutions for people everywhere," Sullivan said.

The news of the Pfizer sharing plan was confirmed to The Associated Press by a person familiar with the matter, who spoke on condition of anonymity ahead of the president's formal announcement. The news was first reported by The Washington Post.

The U.S. has faced mounting pressure to outline its global vaccine sharing plan. Inequities in supply around the world have become more pronounced, and the demand for shots in the U.S. — where nearly 64% of adults have received at least one dose — has dropped precipitously.

Last week, the White House unveiled its plans to donate an initial allotment of 25 million doses of surplus vaccine overseas, mostly through the United Nations-backed COVAX program, promising infusions for South and Central America, Asia, Africa and others at a time of glaring shortages abroad.

Overall, the White House has announced plans to share 80 million doses globally by the end of June, most through COVAX. Officials say a quarter of the nation’s excess will be kept in reserve for emergencies and for the U.S. to share directly with allies and partners.

The White House has also directed doses to allies including South Korea, Taiwan and Ukraine.

Global public health groups had been aiming to use the upcoming G-7 meetings in Cornwall, England, to press the nation's wealthiest democracies to do more to share vaccines with the world, and Biden's plans drew immediate praise toward that end.

“The Biden administration’s decision to purchase and donate additional COVID-19 vaccine doses is the kind of bold leadership that is needed to end this global pandemic," said Tom Hart, acting CEO at The ONE Campaign, a nonprofit that seeks to end poverty. “This action sends an incredibly powerful message about America’s commitment to helping the world fight this pandemic and the immense power of US global leadership.”

But others have called on the U.S. to do even more.

“Charity is not going to win the war against the coronavirus," said Niko Lusiani, Oxfam America’s vaccine lead. “It’s time to let the world help itself. Rather than more lucrative transactions with very profitable pharmaceutical corporations, we need a transformation toward more distributed vaccine manufacturing so that qualified producers worldwide can produce billions more low-cost doses on their own terms, without intellectual property constraints."

Biden last month broke with European allies to endorse waiving intellectual property rules at the World Trade Organization to promote vaccine production and equity. But many in his own administration acknowledge that the restrictions were not the driving cause of the global vaccine shortage, which has more to do with limited manufacturing capacity and shortages of delicate raw materials.

Sullivan said Wednesday that he does not expect the U.S. push to waive the patents on vaccines to cause tension with European counterparts.

“We’re all converging around the idea that we need to boost vaccine supply in a number of ways, sharing more of our own doses,” Sullivan told reporters aboard Air Force One. “We’ll have more to say on that, helping get more manufacturing capacity around the world.”

Globally, there have been more than 3.7 million confirmed deaths from COVID-19, and more than 174 million people have been confirmed infected.

Featured Article: How to Use the New Google Finance Tool


7 Penny Stocks That Don’t Care About Robinhood

By the time you read this Vladimir Tenev, the CEO of the trading app Robinhood, will be testifying in front of Congress. The company’s role in the GameStop (NYSE:GME) short squeeze will be called into question.

However, the real issue at stake is the right of traders to buy and sell the equities of their choice. In the case of Robinhood, some traders are buying a lot of penny stocks. While definitions vary, penny stocks are generally considered stocks that are trading for less than $10 per share. These stocks are largely ignored by the investment community.

One reason is that many of these stocks are cheap for a reason. For example, the company may have a business model that is out of date. In other cases, they operate in a very small, niche market that doesn’t drive a lot of revenue.

And most of these stocks are ignored by the investment community. They simply aren’t considered significant enough to spend time debating.

But some penny stocks do have the attention of Wall Street. And they’re being largely ignored by the day trading community. The focus of this special presentation is to direct you to penny stocks that have a story that the “smart money” thinks will eventually be trading at much higher prices.

And that’s why you should be looking at them now.

View the "7 Penny Stocks That Don’t Care About Robinhood".


MarketBeat - Stock Market News and Research Tools logo

MarketBeat empowers individual investors to make better trading decisions by providing real-time financial data and objective market analysis. Whether you’re looking for analyst ratings, corporate buybacks, dividends, earnings, economic reports, financials, insider trades, IPOs, SEC filings or stock splits, MarketBeat has the objective information you need to analyze any stock. Learn more about MarketBeat.

MarketBeat is accredited by the Better Business Bureau

© American Consumer News, LLC dba MarketBeat® 2010-2021. All rights reserved.
326 E 8th St #105, Sioux Falls, SD 57103 | U.S. Based Support Team at [email protected] | (844) 978-6257
MarketBeat does not provide personalized financial advice and does not issue recommendations or offers to buy stock or sell any security.

Our Accessibility Statement | Terms of Service | Do Not Sell My Information

© 2021 Market data provided is at least 10-minutes delayed and hosted by Barchart Solutions. Information is provided 'as-is' and solely for informational purposes, not for trading purposes or advice, and is delayed. To see all exchange delays and terms of use please see disclaimer. Fundamental company data provided by Zacks Investment Research.