Brussels will get 300 million doses of Pfizer vaccine

The European Commission announced on Tuesday that it would buy 300 million doses of the vaccine developed by Pfizer and BioNtech. The German laboratory’s effectiveness reached 90%. This is the most promising vaccine so far, the president of the European Commission, Ursula von der Leyen, said in a statement. Once this vaccine is available, they plan to implement it quickly anywhere in Europe.

The authorization of the contract with both laboratories will take place this Wednesday. The Executive is also expected to reveal some details of the purchase, such as the price.

This agreement joins the other three, signed with other laboratories that are developing vaccines. The Commission estimates that it has about 1,400 million doses. They would be used to vaccinate 700 million people if all the vaccines in development turn out to be safe and effective.

And more will come, according to von der Leyen. Because of the need to have a wide portfolio of vaccines based on different technologies.

The Commission had already reached a preliminary agreement with BioNTech-Pfizer last September. The doses will be distributed among the Member States according to their population density. However, von der Leyen has already warned in the past that they do not expect to receive the vaccines until the next year since laboratories will still have to manufacture the doses. Furthermore, they will then have to be distributed among the Member States, and governments among their citizens, starting with priority groups, such as population at risk. Von der Leyen explained that they are already working with the countries to design national vaccination campaigns.

Recovery from lows

When the use of vaccines is generalized, the economic cycle and the effect of the monetary and fiscal measures that have been implemented will be more clear.

Meanwhile, the Ibex 35 closed the session this Monday with a historical rise of 8.5%, the highest in 10 years. With the continuity of the rises on Tuesday it already recovers 21.5% from the October lows.

Is this the beginning of a great rotation? Johanna Kyrklund, a strategist at Schroders, says that there is a good chance that we have found the catalyst to bring about a shift from stay-at-home actions. She concludes that it would no longer be necessary to pay a large premium for a few areas of growth if all kinds of companies grow back as the economy recovers. If a vaccine were administered, the uncertainty would be reduced massively and sustainably, agrees Bruno Cavalier, a chief economist at Oddo BHF.