Trump says U.S. has reached deal with Moderna for 100 million doses of coronavirus vaccine – CNBC

President Donald Trump on Tuesday revealed the U.S. government will buy 100 million doses of Modernas experimental coronavirus vaccine, which is currently in late-stage human trials..

” We value the confidence of the U.S. government in our mRNA vaccine platform and the ongoing support,” Moderna CEO Stephane Bancel said in a news release..

Bancel said on Modernas second-quarter revenues contact Aug. 5 that the business would price its vaccine ” well-below value” during the pandemic duration and will price it at market price once the virus is under control..

Modernas coronavirus vaccine remains in late-stage human trials, which will check its efficacy and safety in 30,000 individuals. The Massachusetts-based business previously stated it might anticipate results as early as October..

The U.S. federal governments offer with Moderna follows similar agreements its made with pharmaceutical giants Pfizer, Johnson and Johnson and other drug makers for their potential Covid-19 vaccines.

The offers become part of the Trump administrations efforts to accelerate the development, manufacturing and distribution of treatments and vaccines to eliminate the coronavirus under the program called Operation Warp Speed..

The U.S. Department of Health and Human Services previously stated it would pay Pfizer and biotech company BioNTech $ 1.95 billion to provide and produce 100 million doses of their Covid-19 vaccine with the option to acquire 500 million additional dosages. HHS later on revealed it would offer Johnson & & Johnson more than $1 billion for 100 million dosages with the alternative for an extra 200 million..

Previously on Tuesday, HHS Secretary Alex Azar told ABCs “Good Morning America” that the operation is on track to produce “10s of millions of dosages by December of FDA-gold-standard vaccine and hundreds of millions of doses as we enter into the new year.”.

” We are buying the advancement and manufacture of the top 6 vaccine prospects to ensure quick shipment. The armed force is all set to go, theyre prepared to deliver a vaccine to Americans as quickly as one is completely authorized by the FDA and were extremely near that approval,” Trump said throughout an interview at the White House..

Moderna separately stated the offer for its vaccine, mRNA-1273, is worth $1.53 billion and will offer the federal government the option to acquire approximately 400 million extra doses. The U.S. has actually already invested $955 million in Modernas vaccine advancement, bringing its total investment approximately $2.48 billion, the business stated in a news release Tuesday..

— CNBCs Berkeley Lovelace Jr. added to this report..

HHS also struck a deal with Sanofi and GlaxoSmithKline for up to $2.1 billion to deliver and establish 100 million doses of their potential coronavirus vaccine with the choice to acquire an additional 500 million doses..