Australia doubles Pfizer COVID-19 vaccine order as AstraZeneca fears upend rollout
April 9, 2021, 9:29 am

Australia doubles Pfizer COVID-19 vaccine order as AstraZeneca fears upend rollout

Pfizer logo is reflected in a drop on a syringe needle in this illustration photo taken March 16, 2021. (Reuters)

Australia has doubled its order of the Pfizer Inc COVID-19 vaccine, Prime Minister Scott Morrison said on Friday, as the country raced to overhaul its inoculation plan over concerns about the risks of blood clots with the AstraZeneca Plc vaccine.

Until late Thursday, Australia based its vaccination program largely on an AstraZeneca shot, with an order for 50 million doses - enough for the required two shots for its entire 25 million population - to be made domestically by biopharma CSL Ltd.

But Australia has now joined a host of countries in restricting use of the vaccine due to clotting concerns. Local health authorities have changed their recommendation to say the country’s nearly 12 million people aged under 50 should take the Pfizer product instead.

As a result Australia has doubled an earlier Pfizer order to 40 million shots, enough for four-fifths of the population, which would be delivered by the end of the year, Morrison said.

The policy change to Pfizer effectively ends plans to have the entire population vaccinated by the end of October.

“It is not a prohibition on the AstraZeneca vaccine,” Morrison told reporters in Canberra after a national cabinet meeting to discuss the virus response.

“For those who are over 50, there is a strong encouragement to be taking this AstraZeneca vaccine.”

Australia's Prime Minister Scott Morrison reacts after receiving a dose of the Pfizer/BioNTech Covid-19 vaccine, as Minister for Health Greg Hunt (L) looks on, at the Castle Hill Medical Centre in Sydney on February 21, 2021.

After Australia opened a quarantine-free travel zone with neighboring New Zealand, Morrison said he hoped to make similar arrangements elsewhere in the region, and “the more Australians who are vaccinated, the more likelihood there is of being able to have the types of arrangements that I mentioned”.

Health Secretary Brendan Murphy called the policy change “highly precautionary” given the low rates of possible adverse effects associated with the AstraZeneca shot.

More than a dozen countries have at one time suspended use of the AstraZeneca vaccine, but most have resumed, with some, including France, the Netherlands and Germany, recommending a minimum age.

Australia’s most populous state New South Wales, home to nearly a third of the population, said it was pausing the AstraZeneca rollout to update “informed consent” documents to notify patients of risks.

Before the updated Pfizer order was announced, AstraZeneca said it respected the Australian decision and was working with regulators around the world “to understand the individual cases, epidemiology and possible mechanisms that could explain these extremely rare events”.

CSL said it remained committed to meeting its contracted arrangements to make the vaccine.

‘Eggs in one basket’

As well as the AstraZeneca and Pfizer contracts, Australia ordered 51 million doses of a vaccine being trialed by US pharmaceutical giant Novavax Inc, but local authorities say they do not expect to approve the product until late 2021.

Employees work on the production line of a coronavirus home test unit in Brisbane. (AFP)

Australia also embarked on a home-grown option - as opposed to local manufacture of AstraZeneca’s offshore-developed product - with University of Queensland undertaking a trial of its own vaccine. That trial was aborted in December when the product was linked to false positives in HIV tests.

The government said in January that it planned to have four million vaccinated by the end of March, only to have 600,000 by that time. The number was just over one million as of Friday, the authorities said.

“Australians won’t forget who is responsible for failing to deliver on what are his own promises and his own commitments,” opposition Labor leader Anthony Albanese told reporters on Friday.

“They should have listened to the expert advice that was given to the government, and indeed to all governments, about not placing all our eggs in one basket”.

New Zealand Prime Minister Jacinda Ardern said the country was still assessing the AstraZeneca vaccine, without specifying whether the Australian decision would affect it.

The Pfizer vaccine is the only inoculation approved by New Zealand, which says it has ordered enough for its five million population.

Australia began vaccinations later than some other countries because of its low number of infections, which stand at just under 29,400, with 909 deaths, since the pandemic began.

source: Reuters

Image source: Reuters

Levant

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BENEFIT, the Kingdom’s innovator and leading company in Fintech and electronic financial transactions service, held its Annual General Meeting (AGM) at the company’s headquarters in the Seef District.
During the meeting, shareholders approved all items listed on the agenda, including the ratification of the minutes of the previous AGM held on 26 March 2024. The session reviewed and approved the Board’s Annual Report on the company’s activities and financial performance for the fiscal year ended 31 December 2024, and the shareholders expressed their satisfaction with the company’s operational and financial results during the reporting period.
The meeting also reviewed the Independent External Auditor’s Report on the company’s consolidated financial statements for the year ended 31 December 2024. Subsequently, the shareholders approved the audited financial statements for the fiscal year. Based on the Board’s recommendation, the shareholders approved the distribution of a cash dividend equivalent to 10% of the paid-up share capital.
Furthermore, the shareholders endorsed the allocation of a total amount of BD 172,500 as remuneration to the members of the Board for the year ended 31 December 2024, subject to prior clearance by related authorities.
The extension of the current composition of the Board was approved, which includes ten members and one CBB observer, for a further six-month term, expiring in September 2025, pending no objection from the CBB.
The meeting reviewed and approved the Corporate Governance Report for 2024, which affirmed the company’s full compliance with the corporate governance directives issued by the CBB and other applicable regulatory frameworks. The AGM absolved the Board Members of liability for any of their actions during the year ending on 31st December 2024, in accordance with the Commercial Companies Law.
In alignment with regulatory requirements, the session approved the reappointment of Ernst & Young (EY) as the company’s External Auditors for the fiscal year 2025, covering both the parent company and its subsidiaries—Sinnad and Bahrain FinTech Bay. The Board was authorised to determine the external auditors’ professional fees, subject to approval from the CBB, and the meeting concluded with a discussion of any additional issues as per Article (207) of the Commercial Companies Law.
Speaking on the company’s performance, Mr. Mohamed Al Bastaki, Chairman BENEFIT , stated: “In terms of the financial results for 2024, I am pleased to say that the year gone by has also been proved to be a success in delivering tangible results. Growth rate for 2024 was 19 per cent. Revenue for the year was BD 17 M (US$ 45.3 Million) and net profit was 2 Million ($ 5.3 Million).

Mr. Al Bastaki also announced that the Board had formally adopted a new three-year strategic roadmap to commence in 2025. The strategy encompasses a phased international expansion, optimisation of internal operations, enhanced revenue diversification, long-term sustainability initiatives, and the advancement of innovation and digital transformation initiatives across all service lines.
“I extend my sincere appreciation to the CBB for its continued support of BENEFIT and its pivotal role in fostering a stable and progressive regulatory environment for the Kingdom’s banking and financial sector—an environment that has significantly reinforced Bahrain’s standing as a leading financial hub in the region,” said Mr. Al Bastaki. “I would also like to thank our partner banks and valued customers for their trust, and our shareholders for their ongoing encouragement. The achievements of 2024 set a strong precedent, and I am confident they will serve as a foundation for yet another successful and impactful year ahead.”
Chief Executive of BENEFIT; Mr. Abdulwahed AlJanahi commented, “The year 2024 represented another pivotal chapter in BENEFIT ’s evolution. We achieved substantial progress in advancing our digital strategy across multiple sectors, while reinforcing our long-term commitment to the development of Bahrain’s financial services and payments landscape. Throughout the year, we remained firmly aligned with our objective of delivering measurable value to our shareholders, strategic partners, and customers. At the same time, we continued to play an active role in enabling Bahrain’s digital economy by introducing innovative solutions and service enhancements that directly address market needs and future opportunities.”
Mr. AlJanahi affirmed that BENEFIT has successfully developed a robust and well-integrated payment network that connects individuals and businesses across Bahrain, accelerating the adoption of emerging technologies in the banking and financial services sector and reinforcing Bahrain’s position as a growing fintech hub, and added, “Our achievements of the past year reflect a long-term vision to establish a resilient electronic payment infrastructure that supports the Kingdom’s digital economy. Key developments in 2024 included the implementation of central authentication for open banking via BENEFIT Pay”
Mr. AlJanahi concluded by thanking the Board for its strategic direction, the company’s staff for their continued dedication, and the Central Bank of Bahrain, member banks, and shareholders for their valuable partnership and confidence in the company’s long-term vision.