Pfizer Inc. (NYSE: PFE) and BioNTech SE (NASDAQ: BNTX) revealed today that it has entered into an agreement with the European Commission for the supply of COVID-19 vaccine. As per the agreement, Pfizer-BioNTech will provide 200 million doses of their ‘90% effective’ COVID-19 vaccine to the European Commission.

The agreement also includes the option of an extra 100 million supply of vaccine doses if the EU requested. The companies have earlier disclosed that their investigational mRNA-based vaccine candidate, BNT162b2′ has shown a 90% efficacy level against SARS-CoV-2.

Shares of Pfizer Inc. (NYSE: PFE) traded up +0.52% at $38.68 during the pre-market trading session of Wednesday. The company has a 52-weeks low range of $27.88 and a high range of $41.99. It has moved up 38.74% from its 52-weeks low and moved down -7.88% from its 52-weeks high. This company has a total market capitalization of $214.88 billion at the time of writing.

However, BioNTech SE (NASDAQ: BNTX) shares traded down -2.71% at $109.70 during the pre-market trading session of Wednesday. BNTX had a trading volume of 8.03 million shares as compared to the average volume of 2.76 million shares. BioNTech has a return on investment of -31.40% and a Gross Margin of 83.40%. Looking at its liquidity, it has a current ratio of 3.00. BNTX has a total market capitalization of $26.86 billion at the time of writing.

It has been revealed that the doses of the COVID-19 vaccine for the EU will be produced in the manufacturing site of Pfizer in Belgium and a manufacturing site of BioNTech in Germany. It is projected that the doses will be delivered by the end of 2020 after the completion of regulatory authorization.

Under the term of the agreement, 27 EU countries will be able to purchase 200 million doses of vaccine and also have an option to buy additional 100 million doses.