US to pay Pfizer, BioNTech $1.95 bn for 100 mn Covid-19 vaccine doses

The companies will not receive any money from the government unless their vaccine succeeds in large clinical trials

The U.S. government will pay $1.95 billion to buy 100 million doses of a Covid-19 vaccine being developed by Pfizer Inc and German biotech BioNTech SE if it proves to be safe and effective, the companies said on Wednesday.

The contract is the most the United States has agreed to spend on a vaccine, although previous deals with other vaccine makers were intended to also help pay for development costs.

Pfizer and BioNTech will not receive any money from the government unless their vaccine succeeds in large clinical trials and can be successfully manufactured, according to a Pfizer spokeswoman.

Under the agreement, the