Last checked at (Sharecast News) - The European Union has finalised a deal with US drugs giant Pfizer to acquire up to 300m doses of its experimental Covid-19 vaccine, with delivery potentially starting as soon as December.
Under the deal, Pfizer and its German partner BioNTech will provide 200m doses of its vaccine to member states, with an option for the European Commission to request a further 100m doses.
Delivery is expected to start by the end of the year, assuming full clinical success and regulatory approval from the European Medicines Agency. The deal was first tentatively agreed in September, when talks between the drug companies and EC came to an end, but has now been finalised.
No financial details have been disclosed. However, in July, the US government confirmed it would spend $1.95bn acquiring the first 100m doses of the vaccine.
Albert Bourla, chief executive of Pfizer, said: "Today's finalised supply agreement with the EC represents the largest initial order of vaccine doses for Pfizer and BioNTech to date, and a major step forward toward our share goal of making a Covid-19 vaccine available to vulnerable populations."
Earlier this week, Pfizer and BioNTech caused global stock markets to surge after they said the vaccine candidate had been shown in studies to prevent more than 90% of people from getting Covid-19, with no safety concerns raised.
The research has not been peer reviewed, however, and still requires regulatory approval.
Vaccine doses for Europe will be manufactured at BioNTech's German sites and Pfizer's Belgium facility.
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