The United States will pay $ 1.95 billion for Pfizer to manufacture and deliver 100 million doses of its Covid-19 vaccine candidate in the United States if it proves safe and effective in humans, the government said on Wednesday .
The United States can purchase another 500 million cans under the agreement, the Department of Health and Human Services added. The vaccine is being developed jointly by the German biotech company BioNTech and the United States Pfizer.
Pfizer stocks rose more than 4% in the news in the premarket trade, and BioNTech stock fell over 6%.
"Operation Warp Speed is putting together a portfolio of vaccines to increase the likelihood that the American people will get at least one safe and effective vaccine by the end of this year," said HHS secretary Alex Azar in a statement. "Depending on the success in clinical trials, today's agreement will enable delivery of approximately 100 million doses of vaccine developed by Pfizer and BioNTech."
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