US Government Pays For First Covid-19 Vaccine

Pfizer, BioNTech Get $1.95 Billion Covid-19 Vaccine Order From U.S. Government
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The Trump Administration has launched the Warp Seed Program to enter into the largest contract for initiating the manufacture of 100 million shots of the Covid-19 vaccine. Pfizer is a pharmaceutical firm that is committed to delivering the Covid-19 vaccine worth 100 million shots to the federal government. The same opportunity has been grasped by BioNTech, a biotechnology firm in Germany

The deal worth $1.95 billion was announced of late when the biggest investment-initiative of the Trump administration in this regard had proven to be ineffective.

The government even has the objective of achieving extra BNT162 doses worth 500 million while calling the vaccine entity. Pfizer expresses a willingness to secure authorization or seek approval of the regulatory bodies.

How the Agreement Extends Protection to the Nations at Risk

The agreement would enable the US in procuring a share of the Covid-19 vaccine as proposed by Pfizer until the last quarter of 2021. It will be a strong value addition to the vaccine contracts entered by the US government of late. The government has already arrived at contracts for manufacturing a minimum of 100 million doses with Novavax and another 300 million doses with AstraZeneca.

The entire process of vaccination doesn’t cover the risks borne by the people in the third world. The candidate vaccines are being snapped up by the developed nations. It can leave large masses of the population belonging to these developing nations unprotected.

Despite most drug manufacturers agreeing to deliver the drugs for free, the US government is meeting the price of each dose at a predetermined rate of $19.50. While each dose of the Covid-19 vaccine with AstraZeneca is priced up to $4, the same got listed at $10 with GlaxoSmithKline. Few of the manufacturers have agreed to add the price tags on a not-for-profit basis.

How Effective Can the Vaccine Be In Bringing the Economy Back on Track?

The times we are witnessing now is described as extraordinary. The pricing of the vaccines has reflected it through the different phases of the pandemic. Keeping with the urgent need under the global emergency, the pricing of the COVID vaccines needs to remain uniform.  

The US has already confirmed about 3.9 million instances of the Covid-19 cases besides attributing it to the deaths of 140, 000 patients. In states like California, Florida, and Texas, the death toll continues to accelerate since the states opened up to the members of the public on July 7 leading to an aggravation of infections.

The health crisis compels both the political and business personalities to keep their fingers crossed on a vaccine that safeguards the national economy. Most social and business activities stopped following the stay-at-home orders while causing the nation to enter a recession. American filing for unemployment has risen to 32 million at the end of the last week.

In an attempt to curb the financial risk potential of manufacturers, the US government is pumping billions of dollars for lifting the volume of vaccine production. The fast-track effort of the US authorities is termed Operation Warp Speed, which is likely to continue until the medicines get approved by the authorities of drug safety control.

Usually, the manufacturers initiate large scale production only after accumulating checked and tested data. However, the entire process gets sped up in reciprocation of the global emergency wherein the doses are easily accessible on the very date that they are deemed as effective.

Out of all the government-backed investments on Covid-19 vaccine, the Pfizer contract proves to be the fifth largest. It extends assistance in pre-placing orders for vaccines that are needed for conducting experiments. This, in turn, will help render assistance towards research and development to be committed by companies like AstraZeneca, Moderna, Novavax, and Johnson & Johnson.

The US government is working towards enhancing the provision of various necessary elements like syringes and glass vials besides extending the capabilities of vaccine production at a higher level.

Pfizer aims at developing Covid-19 vaccines worth 100 million by the end of the year 2020. They have committed to producing 1.3 billion doses of the vaccine. It will rope in a fair share of the company’s manufacture in the coming years.

The latest Press Releases project the creation and delivery of some 100 million doses of the vaccine for the Americans by the first quarter of 2021.