Trump administration awards Pfizer $2B for coronavirus vaccine

ByChris Ciaccia| Fox News

Officials with the Trump administration said Wednesday the U.S. government will pay Pfizer $1.95 billion to make and deliver 100 million doses of itsCOVID-19vaccine from the BNT162 vaccine program if it receives approval from the FDA.

An HHS memo said the vaccine, which is in Phase I/II testing, is being developed by Pfizer and its German biotech partner, BioNTech. The contract is part of"Operation Warp Speed,"the U.S. government's plan to quickly ramp up the development and production of vaccines to prevent the spread of COVID-19.

HHS Secretary Alex Azar in the statement, “Through Operation Warp Speed, we are assembling a portfolio of vaccines to increase the odds that the American people will have at least one safe, effective vaccine as soon as the end of this year,. Depending on success in clinical trials, today’s agreement will enable the delivery of approximately 100 million doses of vaccine being developed by Pfizer and BioNTech.”

The HHS said the Pfizer agreement also allows the U.S. government to acquire an additional 500 million doses, according to a statement from the Department for Health and Human Services.

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