Poland, Romania Ordered to Honor Vaccine Deal with Pfizer

Pfizer Inc. (NYSE:PFE) is included among the 15 Cheapest Stocks with Highest Dividends.

On April 1, Reuters reported that a Belgian court ordered Poland and Romania to take delivery of €1.9B ($2.2B) worth of COVID-19 vaccines made by Pfizer Inc. (NYSE:PFE) and BioNTech. The case has been building for some time. Pfizer brought the lawsuit in late 2023, asking the court to enforce a contract signed with the European Commission. The agreement required both countries to accept a fixed number of vaccine doses over several years.

Back in April 2022, Poland and Romania declined to take those doses. They pointed to changing pandemic conditions, the war in Ukraine, and concerns around Pfizer’s position in the market. The Brussels court dismissed those arguments. It ruled that both countries must accept and pay for the vaccines. Poland’s obligation stands at about €1.3 billion, while Romania’s is around €600 million. Poland said it intends to challenge the decision. Romania indicated the total amount could increase due to penalties. It also noted that payment would still be required even if an appeal is filed.

Pfizer said the ruling reinforces the contractual commitments made during the EU’s pandemic response, when governments secured large vaccine supplies alongside BioNTech and Moderna.

Pfizer Inc. (NYSE:PFE) is a research-based global biopharmaceutical company. It is engaged in the discovery, development, manufacturing, marketing, sale, and distribution of biopharmaceutical products worldwide. Its Biopharma segment includes the Pfizer U.S. Commercial Division and the Pfizer International Commercial Division.

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