Pfizer, BioNTech may get $2 billion from US for 100 million doses of potential coronavirus vaccine

The US government will pay $1.95 billion for Pfizer and BioNTech when the companies manufacture potential COVID-19 vaccine, if Pfizer obtains approval or emergency use authorization from the Food and Drug Administration. The government can also acquire up to 500 million additional doses of the vaccine under the agreement.

The agreement with Pfizer and BioNTech is part of the US government’s Operation Warp Speed program goal to begin delivering 300 million doses of a vaccine for COVID-19 in 2021.

Shares of both Pfizer and BioNTech increased; Pfizer jumped as much as 6 percent, while BioNTech rose nearly 8 percent afterr signing a $2 billion deal to supply their experimental coronavirus vaccine