U.S. to pay $3.2 billion to Pfizer, BioNTech for more COVID-19 vaccines for fall

Pfizer Inc. and BioNTech SE said late Wednesday they have inked a new agreement with the U.S. government to supply 105 million doses of their COVID-19 vaccines, including a formulation adapted to target omicron variants, pending approval from the FDA. The two pharma companies said the doses are expected to be delivered as soon as late summer, and continue into the end of the year. Under the agreement, the U.S. has the option to buy up to 195 million additional doses, which would bring the total number of potential doses to 300 million. "As the virus evolves, this new agreement will help ensure people across the country have access to vaccines that may provide protection against current and future variants," Pfizer Chief Executive Albert Bourla said in a statement. Shares of Pfizer rose 0.6% in after the news, matching their advance in the regular session, while the American depositary receipts of BioNTech rose 1.2% after hours following a 1.5% advance during regular trading.

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