US Agrees to Pay $1.95 Billion for 100 Million Doses of Vaccine

The federal government has agreed to pay Pfizer and German biotechnology firm BioNTech nearly $2 billion to produce 100 million doses of a Covid-19 vaccine currently under development, if the vaccine is found to be safe and effective in humans. The agreement also gives the U.S. the option to acquire an additional 500 million doses.

“By entering into this agreement now, a safe and effective vaccine can be shipped quickly if FDA [Food and Drug Administration] grants EUA [Emergency Use Authorization] or licensure,” the Department of Health and Human Services said in a statement Wednesday. “This approach helps meet the U.S. government’s Operation Warp Speed goal to begin delivering 300 million of doses of safe and effective vaccine to the American people by the end of the year.”