U.S. President Donald Trump has recently announced that the government will purchase 100 million doses of the experimental COVID-19 vaccine developed by Moderna. The vaccine is currently at the advanced stage of development.
In a separate statement made by the biotechnology company, its mRNA-1273 vaccine is reportedly worth over $1.53 billion. The company is also planning to offer the federal government an option to purchase additional doses of over 400 million. The country has initially invested $955 million for the development of this vaccine, bringing its total investment to nearly $2.48 billion.
The mRNA-1273 vaccine has reached the late-stage, human trials. In this human trial phase, the company will examine the safety and efficacy of the vaccine in 30,000 subjects or volunteers. It anticipates obtaining the results as early as October 2020. In addition to Moderna, the U.S. government also has signed deals with other vaccine developers such as Johnson & Johnson, and Pfizer.
Trump has reportedly stated that the country has invested in the top 6 vaccine candidates for their effective development and rapid delivery to date. He further added that the military is set to accelerate the vaccine delivery once it is fully approved for use by the U.S. FDA.
Furthermore, the U.S. Department of HHS (Health & Human Services) had previously announced its plan to invest $1.95 billion in BioNTech and Pfizer to produce 100 million vaccine doses, with the option to obtain additional 500 million doses. HHS also announced that it would invest $1 billion in J&J for 100 million vaccine doses, with the option to gain an additional 200 million doses.
The vaccine agreements signed between several companies and the U.S. government are part of its efforts to accelerate the distribution, manufacturing, and development of vaccines against the coronavirus, under the ‘Operation Warp Speed’ program.
Stephane Bancel, CEO of Moderna, has stated that the company would price the vaccine ‘well-below value’ during the pandemic and price up at the market value once the virus is contained.
Source credit: