The COVID-19 vaccine should be available by the end of 2020
The U.S. government just made a $1.95 billion deal with Pfizer Inc. and BioNTech SE to secure the first 600 million doses of a potential coronavirus (COVID-19). The U.S. will be following regulatory approval or authorization to pay the pharmaceutical companies to receive the vaccine doses.
The U.S. government will also have the ability to secure an additional 500 million doses if needed. Shortly after this announcement, BioNTech and Pfizer stock shares rose more than 5% in pre-market trading.
Nations have started the process of ordering vaccines that are still in testing trial phases. The U.S. has also secured a supply of the experimental COVID-19 vaccine, AZD1222, created by Oxford University and produced by AstraZeneca Plc.
Financial reports indicate that the first 100 million doses of the Pfizer-BioNTech vaccine will cost approximately $20 per dose. Financial analysts predict if the vaccine proves successful after one use, it could generate $15 billion in revenue of Pfizer but this figure could change if this vaccine requires multiple doses.
BREAKING: The U.S. government taps Pfizer to produce and deliver 100 million doses of its coronavirus vaccine if it proves safe and effective in humans. https://t.co/VsalvTZX6n pic.twitter.com/ikwb4Psz8y
— CNBC (@CNBC) July 22, 2020
BioNTech’s vaccine program is valued at $11.7 billion and the cost will vary based on certain locations also considering different economic conditions. The estimated net price per dose will start at $36 in the U.S., $30 in the E.U., and $12 for the rest of the world.
Pfizer held a press conference in June and the Pfizer Chief Executive Officer Albert Bourla said in regards to the common market principles, “If we try to calculate the value of the vaccine for the pricing like any other vaccine it would be unethical.
Some countries have secured multiple vaccine sources including the US, UK, and Europe but other countries have yet to secure a steady supply. According to the U.S. government, most Americans will have free access to the Pfizer vaccine as soon as the end of 2020 with the Operation Warp Speed initiative.
-
The Office for National Statistics (ONS) released official figures on Wednesday, revealing that the United Kingdom posted a record...
-
As scrutiny intensifies, Fujitsu faces repercussions for its role in the Post Office scandal. The UK government has issued...
-
Tech Billionaire Proposes Renaming Wikipedia to ‘Dickipedia’ in Exchange for Record Donation In a recent social media spectacle, tech...
-
Urgent IMF Deal Needed to Prevent Pakistan’s Economic Collapse, Bloomberg Warns Bloomberg, a renowned US-based financial news service, has...
-
Federal student loan borrowers are in a tough situation as the pause on loan payments, implemented during the pandemic,...
-
Silicon Valley Bank’s Acquisition Fallout: Rising Unemployment and Uncertain Future First Citizens BancShares Inc., the new Silicon Valley Bank...
-
President Joe Biden and House Speaker Kevin McCarthy engaged in crucial negotiations on Monday to address the US government’s...
-
Secure your financial future with the 50/30/20 rule! As the cost of living continues to increase in 2023, managing...
-
Common treatments and medicines are becoming more expensive and harder to get. According to a new report released this...
-
A California appeals court overturned the challenge to Proposition 22. Back in 2020, California voters passed Proposition 22, which...
-
Tesla is looking to spark interest in its most expensive models. In the last several months, prominent electric vehicle...
-
Prices dropped in Venezuela, Indonesia, Ecuador, Thailand, and more. Netflix has recently been feeling a major financial squeeze as...