US to pay Pfizer to produce COVID-19 vaccine if safe, effective

The US government will pay Pfizer to produce its COVID-19 vaccine if it proves safe and effective in humans.

Nearly $2 billion will be paid to the company for 100 million doses. The U.S. can acquire an additional 500 million doses, according to the agreement, CNBC reported.

Americans would be able to get the vaccine for free, according to a statement from Pfizer and BioNTech.

They're jointly creating the vaccine.

This week, both reported positive early data from a phase 1 and phase 2 clinical trial.