Trump Administration to Pay Big Bucks for Pfizer’s Covid-19 Vaccine

WASHINGTON, KOMPAS.com — The Trump administration will be paying Pfizer nearly $2 billion for 100 million doses of a Covid-19 vaccine the pharmaceutical company is developing.

The news was shared by Health and Human Services Secretary Alex Azar on Wednesday. He added that the shipment for the Covid-19 vaccine will be for December.

Furthermore, the government would allow the US government to purchase an extra 500 million doses of the potential vaccine.

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“Now those would, of course, have to be safe and effective” and approved by the Food and Drug Administration, Azar said during an appearance on Fox News.

Pfizer Inc. and BioNTech SE announced separately that the agreement is with HHS and the Defense Department for a vaccine candidate the companies are developing jointly.

It is the latest in a series of similar agreements with other vaccine companies.

The agreement is part of President Donald Trump's Operation Warp Speed vaccine program, under which multiple Covid-19 vaccines are being developed simultaneously.

The program aims to deliver 300 million doses of a safe and effective Covid-19 vaccine by January 2021.

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Under the initiative, the government will speed development and buy vaccines — before they are deemed safe and effective — so that the medication can be in hand and quickly distributed once the FDA approves or authorizes its emergency use after clinical trials.

Pfizer and BioNTech said the US will pay $1.95 billion upon receipt of the first 100 million doses it produces, following FDA authorization or approval.

Americans will receive the vaccine for free, the companies said.

Azar said the contract brings to five the number of potential coronavirus vaccines that are under development with US funding.

Nearly two dozen are in various stages of human testing around the world, with several entering the final test to prove if they really work.