Pfizer to deliver 100 million additional doses of its COVID-19 vaccine to the U.S. government

By: Wajeeh Khan
Wajeeh Khan
Wajeeh is an active follower of world affairs, technology, an avid reader, and loves to play table tennis in… read more.
on Dec 23, 2020
  • Pfizer to deliver 100 million additional doses of its COVID-19 vaccine to the U.S. government.
  • AstraZeneca says its vaccine should be effective against the new Coronavirus variant.
  • Pfizer’s COVID-19 vaccine won emergency use authorisation from the U.S. FDA in December.

Pfizer Inc. (NYSE: PFE) said on Wednesday that it struck a £1.48 billion deal with the U.S. government under which it will now deliver an additional 100 million doses of its COVID-19 vaccine by the end of July. The ongoing pandemic has so far infected more than 18 million people in the United States and caused over 332 thousand deaths.

Pfizer shares are currently more than 1% up on the intraday chart. Including the price action, the stock is now trading at £27.80 per share versus £27.49 per share at the start of the year. In March, when the impact of the COVID-19 crisis was at its peak, Pfizer had slid to a low of £20 per share.

Pfizer’s COVID-19 vaccine secured emergency use authorisation in December

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In total, the U.S. drug manufacturer has now agreed to supply 200 million doses of the COVID-19 vaccine that it developed in collaboration with German BioNTech. As per the agreement with the United States government, Pfizer is bound to deliver a minimum of 70 million doses by 30th June.

Pfizer secured emergency use authorisation for its COVID-19 vaccine from the U.S. Food and Drug Administration (FDA) earlier in December, after the preliminary results of its late-stage trial suggested in November that the vaccine was effective in over 90% of the cases.  

The vaccine has also won authorisation for use in Europe. As per Reuters, EU has agreed at a price of £14 per dose versus £14.45 per shot in the United States.

AstraZeneca says its vaccine should be effective against the new Coronavirus variant

Secretary Alex Azar of the U.S. Department of Health and Human Services commented on the news on Wednesday and said:

“This new federal purchase can give Americans even more confidence that we will have enough supply to vaccinate every American who wants it by June 2021. Securing more doses from Pfizer and BioNTech for delivery in the second quarter of 2021 further expands our supply of doses across the Operation Warp Speed portfolio.”

In related news from the United Kingdom, pharmaceutical giant, AstraZeneca plc, expressed confidence on Wednesday that its COVID-19 vaccine should be effective against the new variant of the Coronavirus.

Pfizer performed slightly downbeat in the stock market last year with an annual decline of roughly 7%. At the time of writing, the American multinational pharmaceutical corporation is valued at £155 billion and has a price to earnings ratio of 24.26.

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