Pfizer (NYSE:PFE) and BioNTech (NSDQ:BNTX) will supply up to 40 million doses of their COVID-19 vaccine this year to COVAX, a global initiative to provide vaccine doses to developing countries.
The companies said today that they expect the first doses to ship out during Q1; the vaccine will go to COVAX at a not-for-profit price. The financial terms of the deal were not disclosed.
“At Pfizer, we believe that every person deserves to be seen, heard and cared for. That’s why from the very beginning of our vaccine development program, Pfizer and BioNTech have been firmly committed to working toward equitable and affordable access of COVID-19 vaccines for people around the world,” Pfizer CEO Albert Bourla said in a news release. “We share the mission of COVAX and are proud to work together so that developing countries have the same access as the rest of the world, which will bring us another step closer to ending this global pandemic and proving that Science Will Win for everyone, everywhere.”
The Global Alliance for Vaccines and Immunization (GAVI), the Coalition for Epidemic Preparedness Innovations (CEPI) and the World Health Organization (WHO) are coordinating COVAX.
The Pfizer-BioNTech vaccine was the first to get distributed in the U.S. last month after the FDA granted an emergency use authorization.