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Pfizer Gets $1.95 Billion U.S. Deal For 100 Million Doses Of Planned Covid-19 Vaccine

This article is more than 3 years old.
Updated Jul 22, 2020, 04:09pm EDT

TOPLINE

The U.S. government has ordered 100 million doses of Pfizer and partner BioNTech’s Covid-19 vaccine for $1.95 billion with the option for 500 million more orders, with the vaccine available to consumers under Emergency Use Authorization possibly as early as October 2020, the companies announced.

KEY FACTS

Under the deal, Americans would be able to receive the vaccine at no cost.

The Pfizer and BioNTech vaccine candidates will enter a phase three trial as early as this month, they said in the Wednesday statement.

If the trials are successful, the companies say they will seek an Emergency Use Authorization or comparable approval as early as October.


Two of four Covid-19 vaccines jointly manufactured by the companies have received Fast Track designation by the FDA after successful preliminary data from ongoing trials.

Under the agreement with U.S. Department of Health and Human Services and the Department of Defense, they will try to meet the goal of delivering 300 million doses of the vaccine in 2021.

CRITICAL QUOTE

“Expanding Operation Warp Speed’s diverse portfolio by adding a vaccine from Pfizer and BioNTech increases the odds that we will have a safe, effective vaccine as soon as the end of this year,” said HHS Secretary Alex Azar in the announcement.


Big Number

$1 billion. That is the amount of money Pfizer is spending on its Covid-19 vaccine effort with BioNTech, according to Forbes.


KEY BACKGROUND

Pfizer and BioNTech have concocted a vaccine that would normally take years to develop in a matter of weeks, Pfizer chief Albert Bourla told Forbes in May. The vaccine is made using messenger RNA (mRNA), which can expedite clinical trials because it is made from the disease’s genetic code—but would be the first-ever successful mRNA vaccine. Cambridge, Massachusetts-based Moderna has also received government funding to produce millions of doses of their Covid-19 vaccine per month by year’s end.


Tangent

Polling suggests that up to 50% of Americans would not take the Covid-19 vaccine were it made available. A panel of 23 experts in various disciplines convened by the Johns Hopkins Center for Health Security and Texas State Anthropology put together recommendations that would foster vaccine confidence to achieve universal vaccination—like having vaccine centers at communities’ churches and more.

Further Reading

The Race Is On: Why Pfizer May Be The Best Bet To Deliver A Vaccine By The Fall (Forbes)

Pfizer and BioNTech Announce an Agreement with U. S. Government for up to 600 Million Doses of mRNA-based Vaccine Candidate Against SARS-CoV-2 (Investegate)

As Vaccine Skepticism In U.S. Grows, Experts Recommend Strategies For Covid-19 Vaccination Campaign (Forbes)

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