The US government is to pay Pfizer $1.95 billion for Covid-19 vaccinations

The US government is to pay pharmaceutical company ‘Pfizer’ and German biotech firm ‘BioNTech’ $1.95 billion for the production and delivery of 100 million doses of their Covid-19 vaccine candidate.

According to the Department of Health and Human Services (HHS), as well as the Department of Defence, an additional 500 million doses will be acquired by the US government.

The Trump administration has launched a joint programme between the HHS and the Department of Defence called ‘Operation Warp Speed’.

This operation is to accelerate the development of a potential Covid-19 vaccination.

Of the 150+ vaccines that are currently being developed, Pfizer and BioNTech’s candidate is among the ones that are set to be tested in a large trial.

The vaccine candidate has shown promise in early-stage studies on humans.

If studies are successful, both companies expect to seek regulatory approval as early as October.