The US Signs $2B Deal With Pfizer And BioNTech To Develop 100M COVID-19 Vaccine By December

by StartupWorld Staff         

Health and Human Services (HHS) secretary Alex Azar announced that the US government has agreed to pay around $2 billion to Pfizer and BioNTech to manufacture 100 million vaccines of COVID-19 doses by December if a vaccine proved to be effective and safe. 

German-based biotech firm BioNTech and American pharmaceutical firm Pfizer are jointly developing a COVID-19 vaccine. In a recent statement, the firm has announced that they are on track to start the vaccine trial's efficacy and safety in late July to submit for government review from the federal Food and Drug Administration (FDA) as early as October. This vaccine is among the 5 in development with the US government support.

The agreement of $1.95 billion capital with the HHS and Department of Defence – a part of the Trump administration's 'Operation Warp Speed' – committed to distributing the free vaccine to Americans, with up to 1.3 billion vaccines delivered by the end of 2021. This agreement is to date the largest agreement deal between the drug firms and government as the globe speeds up towards the coronavirus vaccine development. As per the agreement, the US government has the potential to even acquire up to 500 million vaccines.

The US Signs $2B Deal With Pfizer And BioNTech To Develop 100M COVID-19 Vaccine By December

In a statement, Alex Azar said that widening the Operation Warp Speed's various portfolios by adding a vaccine from BioNTech and Pfizer raises the odds that we will have an effective and safe vaccine as early as the end of 2020. The agreement will allow depending on the success in clinical trials that will deliver a minimum of 100 million doses of the vaccine to the American people.

In April's first White House COVID-19 press conference, President Donald Trump told media personals that vaccines are coming, and the vaccine will come much sooner than anyone.

To a leading publishing firm, Alex Azar said that they have 5 vaccine candidates, and they put the keep the first place reserved for the US people. They are going to develop a vaccine and put effort into getting the FDA approval of all in the meanwhile.

The firm's present vaccine candidate is BNT162. Scientists said that an early clinical trial determined that the candidate manufactured some neutralizing antibodies, which might be able to block the future infections.

If the ongoing studies from BioNTech and Pfizer prove to be successful, then the firms will look for federal government's Emergency Use Authorisation, or regulatory approval for widespread use, as soon as October.

In an interview, secretary Alex Azar said that the government is not worried about the supply chain shortage that might impede the vaccine's delivery. They have confirmed that they would be able to make sure that they will effectively vaccinate the American people once they get vaccines that are safe and effectively demonstrated by the FDA's gold standard authorization or approval.


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