Stocks, Euro Plunge As Pfizer Says EU Vaccines Will Be Delayed

Stocks, Euro Plunge As Pfizer Says EU Vaccines Will Be Delayed

US and European stocks are getting monkeyhammered after Pfizer notified EU officials that it will be unable to deliver the vaccines it promised in the short term.

European markets are dumping…

And US stocks are getting hit too…

U.S. pharmaceutical company Pfizer confirmed Friday it will temporarily reduce deliveries to Europe of its COVID-19 vaccine while it upgrades production capacity to 2 billion doses per year.

“This temporary reduction will affect all European countries,” a spokeswoman for Pfizer Denmark said in a statement to The Associated Press.

The news has also hit EURUSD…

Line Fedders said that to meet the new 2 billion dose target, Pfizer is upscaling production at its plant in Puurs, Belgium, which “presupposes adaptation of facilities and processes at the factory which requires new quality tests and approvals from the authorities.”

“As a consequence, fewer doses will be available for European countries at the end of January and the beginning of February,” she said.

The ministry said German officials took note of the unexpected announcement by the Commission ” with regret” because the company had made binding delivery commitments by mid-February.

Tyler Durden
Fri, 01/15/2021 – 10:16

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