Tougher terms: Why the EU is paying more for new Covid shots

The European Union has agreed to pay a premium on new orders of Covid-19 vaccines because it is requiring tougher terms to be met, European officials said, as the bloc tries to protect supplies after a rocky start to its vaccination campaign.

The higher price is less than the United States has agreed to pay in its latest order in July.

On Sunday, the Financial Times reported the EU has agreed to pay Pfizer and BioNTech 19.5 euros (RM98) for each of their Covid-19 shots under a...