Pfizer Inc reached a deal with the U.S. government to supply 10 million its investigational COVID-19 oral antiviral candidate, according to a press release by Pfizer on Thursday.
- The FDA approval of PAXLOVID would make it the first oral antiviral designed to deal with SARS-Cov-2.
- Pfizer has applied for Emergency Use Authorization (EUA) of PAXLOVID with the U.S. FDA and continues to submit requests for approval to regulatory agencies across the world.
- Under the agreement, the U.S. government will purchase 10 million treatment courses to be delivered by Pfizer starting later this year and finalizing in 2022.
- Pfizer will get $5.29 billion from the U.S. government, subject to regulatory approval. The pricing for PAXLOVID is based on the concepts of advance commitment, equity, volume, and affordability.
- The price paid by the U.S. government shows their commitment to volumes of treatment doses being purchased through 2022.
Pfizer has reached advanced purchase agreements with other countries and has started bilateral outreach to nearly 100 nations around the world. PFE up +0.49%, Pre-market trading