US to pay Pfizer $1.95 bn to produce millions of doses of COVID-19 vaccine

Pfizer Inc. and German biotech firm BioNTech SE will get $1.95 billion from the US government to produce and deliver 100 million doses of their COVID-19 vaccine candidate. (File/Reuters)
Short Url
Updated 22 July 2020

US to pay Pfizer $1.95 bn to produce millions of doses of COVID-19 vaccine

  • Pfizer and BioNTech are among a handful of companies that are racing to develop a vaccine for COVID-19
  • Their vaccine candidate has shown promise in early-stage small studies in humans

BENGALURU: Pfizer Inc. and German biotech firm BioNTech SE will get $1.95 billion from the US government to produce and deliver 100 million doses of their COVID-19 vaccine candidate.
The agreement allows the US government to acquire an additional 500 million doses, the Department of Health and Human Services and the Department of Defense said.
Pfizer will deliver the doses if the product receives Emergency Use Authorization or licensure from the US Food and Drug Administration, after completing demonstration of safety and efficacy in a large Phase 3 clinical trial.
A vaccine is seen as crucial to tackle the pandemic and governments across the globe have signed deals with drugmakers to secure dosages of their vaccine candidates.
Pfizer and BioNTech are among a handful of companies that are racing to develop a safe and effective vaccine for COVID-19, caused by the new coronavirus. Their vaccine candidate has shown promise in early-stage small studies in humans.
Pfizer’s shares rose 4%, while BioNTech’s US-listed shares were up about 6% before the bell.


Moscow police vow to suppress weekend Navalny protests

Updated 22 January 2021

Moscow police vow to suppress weekend Navalny protests

  • ‘Attempts to hold unsanctioned public events … will be regarded as a threat to public order and immediately suppressed’

MOSCOW: Russian police on Friday said they would crackdown on opposition protests in support of the jailed opposition politician Alexei Navalny at the weekend.
“Attempts to hold unsanctioned public events, as well as any provocative actions on the part of their participants, will be regarded as a threat to public order and immediately suppressed,” Moscow police said in a statement.