Pfizer, BioNTech reach deal to supply EU with 200 million doses of its COVID-19 vaccine candidate

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Pfizer Inc. and BioNTech SE announced Wednesday a deal to provide a supply of 200 million doses of its COVID-19 vaccine candidate to the European Union, marking the largest order for the potential vaccine to date. As part of the deal, the EU has an option to request an additional 100 million doses. Deliveries are expected to begin by the end of 2020, subject to regulatory approval. Financial terms of the deal were not disclosed. Earlier this week, the companies said the vaccine candidate BNT162b2 had a 90% efficacy rate in the first interim analysis of a Phase 3 trial. “Since the onset of the pandemic, Pfizer’s priority has been to develop a safe and effective vaccine, while simultaneously scaling up our manufacturing to deliver doses before the end of the year,” said Pfizer Chief Executive Albert Bourla. “Today’s finalized supply agreement with the European Commission represents the largest initial order of vaccine doses for Pfizer and BioNTech to date and a major step toward our shared goal of making a COVID-19 vaccine available to vulnerable populations.” Pfizer’s stock has gained 2.4% over the past three months and BioNTech shares have soared 64.7%, while the S&P 500 has advanced 6.4%.
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