Peru Ministry of Health – Pfizer/BioNTech, COVID-19 Vaccine Binding Term Sheet

Intellectual property | Ownership of IP

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The Binding Term Sheet between Pfizer/BioNTech (“Suppliers”) and Republic of Peru (as represented by its Ministry of Health, or MoH) came into effect in September of 2020.

This Binding Term Sheet is intended to result in a Definitive Agreement for the purchase of 9,900,000 doses of the Suppliers’ mRNA vaccine (BNT162), directed against SARS-CoV-2 to prevent COVID-19 infection in humans, for USD 118,800,000. Under this Term Sheet, the cost of the vaccine is $12 per dose. The parties also entered into a Confidentiality Agreement which was not available to the time of this writing.

The provisions in this Term Sheet are very similar to those found in the agreement between the Suppliers and the Dominican Republic. The contractual terms generally favor the Suppliers in that the Suppliers have no liability for failure to perform, inadequate performance, failure to make safe delivery of the vaccine, or for any consequences of the administration of the vaccine.

In addition, Peru has agreed to fully indemnify the Suppliers and has assumed liability for contravention of the 2020 Confidentiality Agreement. Notwithstanding the terms of the Confidentiality Agreement, the Suppliers have the right to provide pricing information to other countries, thereby allowing the Suppliers to convey this information to other countries in the midst of their negotiations

Provision Language

Intellectual Property (Page 7)

Suppliers will be the sole owners of all intellectual property they generate during the development, manufacture and supply of the Vaccine or otherwise related to the Vaccine.

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Peru Ministry of Health – Pfizer/BioNTech, COVID-19 Vaccine Binding Term Sheet

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Peru Ministry of Health – Pfizer/BioNTech, COVID-19 Vaccine Binding Term Sheet

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