Two pharmaceutical companies announced a nearly $2 billion contract for 600 million doses of a vaccine, with the first 100 million promised before the end of the year.
The Trump administration on Wednesday announced a nearly $2 billion contract with the pharmaceutical giant Pfizer and a smaller German biotechnology company for up to 600 million doses of a coronavirus vaccine.
If the vaccine proves to be safe and effective in clinical trials, the companies say they could manufacture the first 100 million doses by December.
Under the arrangement, the federal government would obtain the first 100 million doses for $1.95 billion, with the rights to acquire up to 500 million more. Americans would receive the vaccine for free. Before it could be distributed, it would first need at least emergency approval by the Food and Drug Administration.
Large-scale safety and efficacy trials are to begin this month, with regulatory review set for as early as October.
“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,” Alex M.
