Pfizer, BioNTech Rise on U.S. Covid Vaccine Deal

Stock Markets15 minutes ago (Jun 10, 2021 09:51AM ET)

(C) Reuters

By Christiana Sciaudone

Investing.com — Pfizer (NYSE:PFE) and BioNTech rose about 1% after the U.S. said it would send 500 million of their Covid-19 vaccines abroad over the next year.

The companies will provide the doses to the U.S. government at a not-for-profit price, with 200 million doses in 2021 and 300 million in the first half of 2022. The U.S. will then donate the vaccines to 92 low- and lower middle-income countries and organizations.

These doses are part of Pfizer and BioNTech’s previously announced pledge to provide 2 billion doses of the Covid-19 vaccine to low- and middle-income countries over the next 18 months.

To date, Pfizer and BioNTech SE (NASDAQ:BNTX) have shipped 700 million doses to more than 100 countries or territories. The companies have direct supply agreements in place with 122 countries and discussions are ongoing with many more on the supply of the companies’ Covid-19 vaccine. Based on current projections, Pfizer and BioNTech expect to manufacture up to 3 billion doses of the Covid-19 vaccine in 2021.

Pfizer, BioNTech Rise on U.S. Covid Vaccine Deal

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