- The government will be paying $1.95 billion to Pfizer Inc. (NYSE: PFE) for producing and delivering 100 million doses of its COVID-19 vaccine candidate in the U.S. as long as it is effective in humans
The government will be paying $1.95 billion to Pfizer Inc. (NYSE: PFE) for producing and delivering 100 million doses of its COVID-19 vaccine candidate in the U.S. as long as it is effective in humans. Specifically, as long as the potential vaccine proves to be safe and effective in a large phase 3 trial and receives the emergency authorization, Pfizer will begin to deliver doses to locations across the U.S. And the vaccine would then be made available to Americans “at no cost.”
With the deal, the U.S. government will be able to buy an additional 500 million doses said the Department of Health and Human Services. The vaccine candidate is being jointly developed by the German biotech company BioNTech SE (NASDAQ: BNTX) and Pfizer.
“Through Operation Warp Speed, we are assembling a portfolio of vaccines to increase the odds that the American people will have at least one safe, effective vaccine as soon as the end of this year,” said HHS Secretary Alex Azar in a statement. “Depending on success in clinical trials, today’s agreement will enable the delivery of approximately 100 million doses of vaccine being developed by Pfizer and BioNTech.”
This story is developing…
