Some EU countries want to decrease COVID vaccine deliveries as no longer needed
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Several European Union (EU) countries want to renegotiate contracts with COVID-19 vaccine makers as they say they don't need as many shots given the improvement in the pandemic, Reuters reports.
These countries executed deals with companies -- particularly Pfizer (NYSE:PFE)/BioNTech (NASDAQ:BNTX) and Moderna (NASDAQ:MRNA) -- during the height of the pandemic to secure supplies. However, now the countries say millions of shots yet to come are no longer needed and would be wasted.

Poland has 30M vaccine doses on hand, but its contracts call for purchasing another one 70M.
A letter sent to the European Commission ("EC") by Poland's health minister and also signed by the health ministers of Bulgaria, Croatia, Estonia, Hungary, Latvia, Lithuania and Romania called for a reduction in vaccines, noting that when agreements were made, it was impossible to predict the course of the pandemic.
"We witness excessive burden on state budgets, combined with delivery of unnecessary amounts of vaccines," the letter states.
Due to the decline in demand, Moderna and the EC earlier this month amended an agreement allowing countries to delay deliveries of vaccine doses.