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Pfizer-BioNTech and Moderna are set to raise prices on their COVID-19 vaccines in the European Union as it nears the target of having 70 per cent of the adult population being fully vaccinated.Dado Ruvic/Reuters

Pfizer Inc and Moderna Inc have raised the prices of their COVID-19 vaccines in their latest European Union supply contracts, the Financial Times reported on Sunday.

The new price for the Pfizer shot was 19.50 euros (US$23.15 ) against 15.50 euros previously, the newspaper said, citing portions of the contracts seen.

The price of a Moderna vaccine was $25.50 a dose, the contracts show, up from about 19 euros in the first procurement deal but lower than the previously agreed $28.50 because the order had grown, the report said, citing one official close to the matter.

The European Commission said on Tuesday that the EU is on course to hit a target of fully vaccinating at least 70% of the adult population by the end of the summer.

In May, the EU said it expects to have received more than a billion doses of vaccines by the end of September from four drugmakers.

Pfizer and Moderna were not immediately available for comment to Reuters. ($1 = 0.8425 euros)

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