US $1.5 billion in US inks contract with Moderna for 100 million coronavirus vaccine doses

The United States has entered into an agreement with drugmaker Moderna Inc to purchase around $1.5 billion in 100 million doses of its proposed COVID-19 vaccine, the company and White House said on Tuesday. In recent weeks, the United States has made agreements to purchase hundreds of millions of potential doses of COVID-19 vaccines from many firms as part of its Operation Warp Speed initiative , which aims to bring a vaccine to the world by the end of the year.

With the exception of its contract with AstraZeneca, which gave a lower price per medication in return for initial research and development costs, all the contract rates COVID-19 vaccines for a two-dose course of care range from $20 to $42. Moderna ‘s vaccine candidate, mRNA-1273, is one of the few that has already progressed to the final stage of testing and is on target for completion in September, the firm said this month. Moderna ‘s contract with the US only pays out in full if the drugmaker meets any predetermined timing thresholds for delivery of vaccines.

In the U.S., the deals will lock in more than 500 million doses of COVID-19 vaccine, provided regulatory approval is granted to the companies involved. Some deals also give the US the option to buy extra doses. Previously, the U.S. government had provided Moderna with around $1 billion to fund its research efforts, bringing total U.S. funding to about $2.5 billion. Many countries have forged similar relations with drugmakers, including Japan , the United Kingdom and Canada.