Pfizer Inc. (NYSE: PFE) and BioNTech SE (NASDAQ: BNTX) revealed that the firms have signed a deal with the European Commission (EC). As per the deal, the firms will deliver additional 200 million shots of COMIRNATY, the COVID-19 vaccine of the firms. The vaccine will be delivered to 27 EU member states.
Under the terms of the deal, the EC has also the right to order extra 100 million shots of vaccine. Last year, the firms have signed a supply deal with EC and this new deal will add 200 million more shots to the earlier ordered 300 million shots.
Now Pfizer and BioNTech SE are bound to be delivered to the EC in 2021, and it has been projected that nearly 75 million shots will be supplied in the second quarter. By the end of 2021, the total number of shots which is to be provided to EC reached 500 million.
If EC will exercise its right to order additional 100 million shots the total order will reach 600 million only to EC. Both the firms are striving to deliver vaccines so that as many people as possible will be able to get the vaccine. After signing the new deal, the EC will now increase its capability to vaccinate nearly 250 million people by the end of this year.
The COVID-19 vaccine, COMIRNATY, is being manufactured in the production sites in Europe of Pfizer and BioNTech. Both the firms are intending to produce 2 billion shots of the vaccine to battle the novel coronavirus which has affected millions of people all around the globe.
The vaccine is being manufactured by both Pfizer and BioNTech and is based on the patented technology of BioNTech. In the EU, BioNTech SE is the keeper of MA, and in the UK, US, and Canada it is the possessor of EUA and also preparing to get the full consent in these states. FDA has not yet awarded the license to the drug of PFE and BNTX but gave the EUA to stop the spread of the novel virus.