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July 24, 2020

HHS Enters Into Agreement with Pfizer to Produce COVID-19 Vaccine

On Wednesday, the U.S. Department of Health and Human Services (HHS) announced that the U.S. has entered into a $1.95 billion deal with Pfizer wherein Pfizer agrees to produce and deliver 100 million doses of a COVID-19 vaccine upon FDA approval. Pfizer, along with German biotech firm BioNTech, are currently testing four possible vaccines. If any of the vaccines proves safe and effective following clinical trials, the U.S. government would own 100 million doses, with the possibility of acquiring an additional 500 million doses, that Pfizer would deliver around the U.S. at the government’s direction. These doses would be provided to American citizens at no cost. The goal is to have a safe and effective vaccine available beginning in the fourth quarter of 2020.