Longer timeline for US vaccines hurts equity futures
The US purchased enough of the Pfizer vaccine to protect 50 million Americans but declined to buy even more doses in June, according to the NYT.
That means the country will move to the back of the line as it works to get enough for the entire country.
Ultimately, that may not matter because other vaccine candidate could be enough to vaccinate the rest of the country.
“We are confident that we will have 100 million doses of Pfizer’s vaccine as agreed to in our contract, and beyond that, we have five other vaccine candidates,” a spokeswoman for the Department of Health and Human Services said.
In a sign that the US may be scrambling for more, Trump tomorrow plans on Tuesday to sign an executive order “to ensure that United States government prioritizes getting the vaccine to American citizens before sending it to other nations.”
It’s not clear if that order carries any legal power.
A Fox report earlier today the vaccine could be authorized by the FDA as early as Friday.
In terms of the economics, 50m vaccines won’t be enough to achieve herd immunity though it will certainly protect many of the most-vulnerable. If the US can’t procure more doses before June — as this report says — it could potentially push back the timeline for a full reopening.
In markets, US equity futures are down 0.5%, likely as a result of this.