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Operation Warp Speed Has Invested Billions in Potential COVID-19 Vaccines
By Ambrish Shah
Updated 2 months ago
The U.S. government’s Operation Warp Speed program has invested about 10 billion in six potential coronavirus vaccine candidates. The Trump administration has locked in a minimum of 800 million doses as soon as the vaccines are approved. So far, the coronavirus has infected about 6.4 million people in the U.S.
What is Operation Warp Speed?
The Operation Warp Speed (OWS) program was initiated by the Trump administration to accelerate the development, manufacturing, and distribution of the coronavirus vaccines and treatments. The goal of the OWS program is to provide about 300 million doses of a COVID-19 vaccine by January 2021.
Drug giant AstraZeneca said it had paused a trial of its coronavirus vaccine because of an unexplained illness in one of the volunteers.
It’s a standard precaution, meant to ensure experimental vaccines don’t cause serious reactions among volunteers. https://t.co/Z1uO0e0KPX
— CNN (@CNN) September 8, 2020
Operation Warp Speed funding
Under the OWS program, the U.S. government has invested about $10 billion in six vaccine candidates. The government has paid AstraZeneca, Moderna, Pfizer, and Novavax about $1.2 billion, $1.53 billion, $1.95 billion, and $1.6 billion as part of the OWS program, respectively. Johnson & Johnson, Sanofi, and GlaxoSmithKline have also received funding from the OWS program for their coronavirus vaccines. The drug makers have received funding from the U.S. government to pay for manufacturing or distributing the vaccines or to help support clinical development.
Pfizer's COVID-19 vaccine
Pfizer is developing four COVID-19 vaccines in partnership with Germany-based BioNTech. The most advanced vaccine, BNT162b1, is in late-stage human trials. The U.S. Department of Health and Human Services said that it would pay Pfizer and BioNTech about $1.95 billion to produce and deliver 100 million doses of coronavirus vaccine with the option to buy 500 million additional doses. The companies expect to make up to 100 million doses by the end of 2020 and about 1.3 billion doses by the end of 2021.
https://marketrealist.com/p/operation-warp-speed-companies/