Pfizer Seizes Poland and Romania's Air Traffic Revenues

Pfizer has initiated seizure proceedings on Poland and Romania's air traffic control revenues to collect receivables of up to $2.2 billion arising from Covid-19 vaccines. The company's move has provoked a reaction from the two countries' air navigation agencies. The seizure is being applied to the revenues of these agencies. Pfizer's receivable relates to payments arising from Covid-19 vaccine supply agreements. The company has opted for an extraordinary method for collection, directly targeting air traffic control revenues. The air navigation agencies in Poland and Romania have objected to the seizure decision. The developments indicate that the financial dispute between the pharmaceutical company and the two countries is deepening. Not investment advice.