July 22, 2020, Pfizer struck a $1.95 billion deal with the U.S. government to provide Americans with 100 million doses of its COVID-19 vaccine, for free, with an option for 500 million additional doses.
Pfizer/BioNTech have also inked a deal with the U.K. government for 30 million initial doses. Pfizer’s vaccine, currently known only as BNT162, requires two doses, which means the initial batch for the U.S. would cover 50 million people. The deal hinges on the vaccine clearing Phase 3 human trials. The company expects seeking a regulatory review by the FDA in October 2020, which would allow them to manufacture the 100 million doses by the end of the year. The FDA has stated a COVID-19 vaccine must be at least 50% effective to qualify for approval. Dr. Scott Gottlieb, who served as commissioner of the FDA from May 2017 to April 2019, was elected to Pfizer’s board of directors at the end of June 2019.
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