US Government Makes $3.2B Deal with Pfizer
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1776: Continental Congress resolves, “these United Colonies are and of right ought to be Free and Independent States.”
The companies will receive $3.2 billion from the U.S. government “upon receipt of the first 105 million doses,” Pfizer said in a press release. The Biden administration also has the option to purchase up to 195 million additional doses — a total of 300 million doses.
“Vaccines have been and will remain critical to protecting people of all ages against COVID-19,” Pfizer Chairman and Chief Executive Officer Albert Bourla said in a statement. “We remain proud of our long-term partnership with the U.S. government in helping to address this pandemic, and of the ongoing impact of vaccination efforts in the U.S. and around the world.”
Under the new lucrative deal, the average price per dose is more than $30 — a roughly 65% increase from the $19.50 per dose price the U.S. government paid Pfizer in its initial contract.
According to Reuters, Pfizer has forecast COVID-19 vaccine sales of $32 billion this year, and the new contract should boost that number.
U.S. Centers for Disease Control and Prevention data shows that the U.S. government has distributed roughly 450 million doses of the Pfizer/BioNTech vaccine since December 2020.