Stock Groups

Biden pledges new vaccine donations in bid to rally global pandemic fight By Reuters


© Reuters. FILE PHOTO. U.S. President Joe Biden speaking during the 76th session of the U.N. General Assembly, New York City (U.S.A), September 21st, 2021. REUTERS/Eduardo Munoz/Pool

By Jeff Mason

WASHINGTON (Reuters) – President Joe Biden will push world leaders on Wednesday to do more to curb the COVID-19 pandemic, and announce a U.S. pledge to buy 500 million more vaccine doses to donate to other countries.

Holding a virtual summit to boost global vaccination rates, Biden hopes to show he is leading by example with the pledge, which will bring U.S. donations to the rest of the world up to more than 1.1 billion doses.

The vaccines from Pfizer Inc (NYSE:) and BioNTech SE (NASDAQ:) will be made in the United States and shipped to low and lower middle-income countries starting in January, a U.S. senior administration official said ahead of the announcement.

The U.S. has made a significant commitment to this project. The official said that for every shot given in the United States, there will now be three.

According to a source, the government will pay $7 for each dose.

Biden’s administration purchased 500 million doses and agreed to donate them. According to the contract, Pfizer will pay BioNTech and BioNTech approximately $3.5billion or $7 each for shots.

It has been criticized that the United States plans booster shots for fully-vaccinated Americans when millions of others around the world do not have the vital vaccines.

United Nations Secretary-General Antonio Guterres reprimanded world leaders on Tuesday for the inequitable distribution of COVID-19 vaccines, describing it as an “obscenity” and giving the globe an “F in Ethics.”

According to another official, the summit will concentrate on the prevention of pandemics, promoting vaccinations, addressing oxygen shortages and making medicine more accessible.

The goal is to get 70% of the world’s population vaccinated before next year.

Disclaimer: Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. CFDs include futures, stocks, indexes and Forex. Prices are provided not by the exchanges. They are provided by market makers. Therefore, prices can be inaccurate and differ from actual market prices. These prices should not be used for trading. Fusion Media does not accept any liability for trade losses that you may incur due to the use of these data.

Fusion Media or anyone involved with Fusion Media will not accept any liability for loss or damage as a result of reliance on the information including data, quotes, charts and buy/sell signals contained within this website. You should be aware of all the potential risks and expenses associated with trading in the financial market. It is among the most dangerous investment types.