FedEx Canada and partner Innomar Strategies have won a CA$90.4 million ($70.5 million) logistics contract from the Canadian government to distribute COVID-19 vaccines.
The government posted the award notice on Tuesday. FedEx (NYSE:FDX) and Innomar, the Canadian subsidiary of U.S. drug distributor AmerisourceBergen (NYSE:ABC), competed with Kuehne + Nagel, McKesson Canada and UPS Healthcare for the contract.
It came as Canada approved the Pfizer-BioNTech vaccine, the first doses of which could arrive from Belgium as early as Monday, officials said.
The tender awarded to FedEx-Innomar foresees little involvement in distributing the Pfizer vaccine. The pharmaceutical giant plans to ship its vaccines directly to locations in Canada on account of its ultracold temperature requirements.
However, FedEx is among the companies working with Pfizer to distribute its vaccine in the U.S. Pfizer hasn’t identified its logistics partners for Canada.
Canada has bought 20 million doses of the Pfizer vaccine, with options on 56 million more. The government has preordered or reserved some 400 million doses of COVID-19 vaccine candidates — far more than the country of 38 million will need — as a hedge against unknown efficacy and the manufacturers’ ability to supply them.