Pfizer and BioNTech to get US$3.2B from U.S. in COVID vaccine deal

The U.S. agreed to pay vaccine partners Pfizer and BioNTech US$3.2 billion in a deal for 105 million of their messenger RNA shots against COVID-19.

The deal is for doses for adults, children and infants, and may include some shots that target the omicron variant, according to a statement from the companies. Deliveries are planned to begin as soon as late summer and continue into the fourth quarter. Payment will occur after the supply is delivered. 

Pfizer shares rose 0.6 per cent after US markets closed, while BioNTech’s American depositary receipts gained 1.4 per cent. 

The purchase of additional COVID supplies is the administration’s second to be announced Wednesday after agreeing to pay about US$275 million for 150,000 doses of an Eli Lilly & Co. antibody therapy that remains effective for treating omicron and its subvariants. The White House has been battling Congress over funds to make such purchases.