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Pfizer and BioNTech land US$1.95bn COVID-19 vaccine order from US Government

The deal is for the first 100mln vaccine doses and can be expanded by a further 500mln doses – meanwhile, the clinical trial process continues to advance.

Pfizer - Pfizer and BioNTech land US$1.95bn COVID-19 vaccine order from US Government

Pfizer Inc (NYSE:PFE) and BioNTech SE (NASDAQ:BNTX) have received a US$1.95bn order from the United States government for 100mln potential COVID-19 vaccine doses.

The agreement also allows the further acquisition of 500mln vaccines.

Pfizer, in a statement, told investors that the MRNA-based vaccine candidate is on track to start a planned Phase 2b/3 safety and efficacy trial later this month. A regulatory review will be sought as early as October. It added that global manufacturing, of the first 100mln doses, are targeted by the end of 2020 and another 1.3bn doses by 2021.

Americans will receive the vaccine for free consistent with US government’s commitment for free access for COVID-19 vaccines, Pfizer said.

“We made the early decision to begin clinical work and large-scale manufacturing at our own risk to ensure that product would be available immediately if our clinical trials prove successful and an Emergency Use Authorization is granted,” said Pfizer chief executive Dr Albert Bourla.

“We are honored to be a part of this effort to provide Americans access to protection from this deadly virus.”

BioNTech chief executive Ugur Sahin, meanwhile, added: “This agreement is one of many steps towards providing global access to a safe and efficacious vaccines for COVID-19.

“We are also in advanced discussions with multiple other government bodies and we hope to announce additional supply agreements soon.

“Our goal remains to bring a safe and effective COVID-19 vaccine to many people around the world, as quickly as we can.”

Pfizer stock gained US$1.73 or 4.72% in Wednesday’s pre-market deals, changing hands at US$38.40 whilst BioNTech rose by US$6.00 or 6.55% to US$97.86.

Quick facts: Pfizer

Price: 38.45 USD

NYSE:PFE
Market: NYSE
Market Cap: $213.58 billion
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