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Pfizer and BioNTech Announce Agreement to Supply COVID-19 Vaccine
Pfizer Inc. and BioNTech SE, two leading pharmaceutical companies that developed a COVID-19 vaccine, have formed a partnership to advance the global distribution of their vaccine candidate. On July 22, Pfizer and BioNTech announced an agreement with the United States government to secure 100 million doses of their vaccine, subject to regulatory approval, for delivery in the fourth quarter of 2020 and early 2021. The deal also includes an option for the government to acquire up to 500 million additional doses.
The Pfizer-BioNTech vaccine, named BNT162b2, has shown promising results in preliminary clinical trials, with an efficacy rate of up to 95% and no serious safety concerns identified so far. The vaccine uses messenger RNA (mRNA) technology, which instructs human cells to produce a specific protein found on the surface of the coronavirus, triggering an immune response that can protect against the real virus. The vaccine requires two doses, administered three weeks apart, and must be stored at ultra-cold temperatures (-70 degrees Celsius) to maintain its stability.
Under the terms of the agreement, Pfizer will manufacture and distribute the vaccine in the United States, with BioNTech providing the mRNA technology and some clinical supplies. The cost of the vaccine is not yet determined, but the government will pay Pfizer and BioNTech $1.95 billion upon the receipt of the first 100 million doses, pending FDA approval. The vaccine will be provided to Americans for free, as part of the government`s Operation Warp Speed initiative to accelerate the development, production, and delivery of COVID-19 countermeasures.
The agreement with the US government marks a significant milestone for Pfizer and BioNTech, as it secures a major market for their vaccine and helps to fund the further development and testing of the vaccine. The companies are also pursuing regulatory approvals in other countries, such as the European Union and Japan, and plan to distribute up to 1.3 billion doses by the end of 2021, subject to manufacturing and supply chain capacity.
The Pfizer-BioNTech partnership represents a model of collaboration and innovation in the fight against COVID-19, as it combines Pfizer`s global expertise in vaccine production and distribution with BioNTech`s cutting-edge mRNA technology and research capabilities. The agreement also demonstrates the crucial role of public-private partnerships in addressing global health challenges and ensuring equitable access to lifesaving vaccines.
As the world continues to grapple with the COVID-19 pandemic, the Pfizer-BioNTech agreement offers a glimmer of hope for a brighter future, where effective vaccines can protect people from the virus and help to restore normalcy to society. While challenges and uncertainties remain, the partnership between Pfizer and BioNTech serves as a reminder that science, cooperation, and perseverance can overcome even the most daunting challenges.