Pfizer, BioNTech Gain On Signing Deal With EU For 1.8 Billion More Doses By Investing.com

By Dhirendra Tripathi

Investing.com – Pfizer (NYSE:PFE) and BioNTech SE (NASDAQ:BNTX), joint developers of a Covid-19 vaccine, were both up Thursday after the two reached an agreement with the European Union to supply up to 1.8 billion more doses of the shot.

The first supply will comprise 900 million shots with an option for the bloc to request as many doses again.

This new agreement is in addition to the 600 million doses that have already been committed to the EU through 2021.

The first lot is expected to be delivered monthly beginning December 2021 and continuing into 2023.

The total number of potential doses delivered to the EU, inclusive of all agreements, now stands at 2.4 billion.

The vaccine is based on BioNTech’s proprietary mRNA technology. The two companies have geographies demarcated to distribute the shots.