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Cuomo Asks Pfizer To Let New York Purchase COVID-19 Vaccine Directly

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Cuomo Asks Pfizer To Let New York Purchase COVID-19 Vaccine Directly

New York Governor Andrew Cuomo asked Pfizer Inc (NYSE: PFE) to sell its COVID-19 vaccine directly to New York in a letter on Monday.

What Happened: The governor wrote to the New York-based pharmaceutical giant’s CEO Albert Bourla as Pfizer is not bound by supply commitments that rival Moderna Inc (NASDAQ: MRNA) has made under Operation Warp Speed — the federal government’s vaccine initiative.

“I am requesting that the State of New York be permitted to directly purchase doses from you,” wrote Cuomo.

The governor said New York was set to receive 250,000 doses this week, which is 50,000 fewer than the week prior.

Cuomo promised that the distribution of the vaccines would follow “the rigorous guidance” New York has established and allow it to “fill the dosage gap” created in the week by the outgoing federal administration.

“All of this will further our goal to vaccinate 70 to 90 percent of New Yorkers as soon as possible and reach herd immunity,” said the governor.

Why It Matters: The governor did not say how many doses he was seeking for New York in his letter.

As of last Friday, 10.6 million had been administered one or more doses of a COVID-19 vaccine, which is nearly half of the 20 million promised by the outgoing administration, reported Reuters.

No state has reportedly purchased vaccines directly from a drugmaker.

The Pfizer vaccine — made in partnership with BioNTech SE (NASDAQ: BNTX), was developed without financial assistance from the United States government, which means the outgoing administration was left blindsided on supply decisions, the Washington Post reported earlier.

Price Action: Pfizer shares closed nearly 0.1% lower at $36.70 on Friday.

 

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