US government agrees to buy 100 million doses of Moderna's COVID-19 trial vaccine for up to $1.5 billion
The US government is buying 100 million doses of a COVID-19 vaccine candidate, it was announced Tuesday. Under the agreement, pharmaceutical company Moderna will manufacture the vaccine even as clinical trials are underway. The deal is worth up to $1.5 billion. It also permits the US to obtain another 400 million doses. Visit Business Insider's homepage for more stories.
The US government has agreed to pay up to $1.5 billion to obtain 100 million doses of an experimental COVID-19 vaccine, the Department of Health and Human Services announced Tuesday. Under the deal, pharmaceutical company Moderna will manufacture the doses as it conducts clinical trials, which are expected to produce results as early as October. "Manufacturing in parallel with clinical trials expedites the traditional vaccine development timeline," the HHS said in a press release. The vaccine has been co-developed by Moderna and the US government's National Institute of Allergy and Infectious Diseases. "We appreciate the confidence of the US government in our mRNA vaccine platform and the continued support," Moderna CEO Stéphane Bancel said in a press release. The deal is one of several that have been announced with vaccine manufacturers. As CNBC reported, the US has offered up to $2.1 billion for a vaccine being developed by Sanofi and GlaxoSmithKline; another $1.95 billion to Pfizer and BioNTech; and another $1 billion to Johnson & Johnson. Have a news tip? Email this reporter: email@example.comJoin the conversation about this story » NOW WATCH: Inside London during COVID-19 lockdown
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