COVID Vaccine from BioNTech & Pfizer
German Biotech BioNTech's & Pfizer's New COVID Vaccine
1st Vaccine Against COVID that Appears Effective
COVID-19 has caused more than 1 million deaths and infected 52 million people worldwide. Finding a vaccine to protect the world against this unrelenting disease is the Holy Grail of medical research. Frankfurt, Germany based BioNTech appears to be the first to have produced a vaccine that is effective against COVID. The company is co-developing the vaccine with Pfizer.
Below Market Rate Vaccine Pricing
BioNTech plans to price the vaccine, which requires two shots, at below "typical market rates". It will also differentiate the price among countries and regions. The company is doing so to ensure broad-based access around the world. It is important to note that the vaccine has not yet won regulatory approvals.
Based on preliminary trial data, the vaccine is 90% effective. With global deaths and infection rates escalating, the new vaccine - if effective - would be perhaps the most important vaccine ever developed. And, the amount of money it would generate for co-developers Pfizer and BioNTech would be staggering.
In 2021, 1.3 Billion Doses to be Produced
The US government in July ordered 100 million doses of the unapproved vaccine at a price of $39 per 2 shots. It also has the option to order 500 million more doses. The European Union is close to ordering 300 million doses. During 2021, Pfizer and BioNTech hope to manufacture and distribute 1.3 billion doses.