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Wednesday, 22 July 2020_The US government will pay $1.95 billion to buy 100 million doses of Pfizer Inc (PFE.N) and German biotech firm BioNTech SE’s (22UAy.F) covid-19 vaccine candidate if they are able to successfully develop one, the companies said on Wednesday.
The contract is the most the United States has agreed to spend on a vaccine yet, but the previous deals the government signed helped pay for drugmakers’ development costs. Pfizer and BioNTech will not receive any money from the government unless their vaccine is deemed to be safe and effective and is successfully manufactured, according to a Pfizer spokeswoman.
The agreement allows the US government to acquire an additional 500 million doses, the Department of Health and Human Services (HHS) and the Department of Defense said.
HHS said the vaccine will be made available to Americans at no cost, although their health insurance may be charged.
In clinical trials, Pfizer and BioNTech have been testing vaccines that require two injections. That means a supply of 100 million doses would likely vaccinate 50 million Americans.
The deal suggests a US price of $39 for a two-dose regimen.
The Trump administration has agreed to spend billions of dollars for the development and procurement of potential vaccines. The administration launched Operation Warp Speed — a joint HHS and Department of Defense program — to accelerate the development of coronavirus vaccines, treatments and diagnostics.
More than 150 coronavirus vaccines using a variety of technologies are in development globally, with some two dozen already in human trials. Governments have signed deals with drugmakers to secure the supply of various vaccine candidates.
The United States has also signed deals to support development of vaccines by companies including Moderna (MRNA.O), AstraZeneca Plc (AZN.L) and Novavax Inc (NVAX.O).
Pfizer and BioNTech’s vaccine candidate is among those that are set to be tested in a large trial. The vaccine has shown promise in early-stage small studies in humans.
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