Pfizer and BioNTech reach agreement with EU to supply 200 million doses of coronavirus vaccine

Pfizer and BioNTech have reached an agreement with the European Union (EU) to supply the EU with 200 million doses of their coronavirus vaccine, as reported by Reuters.

Key takeaways

"Agreement provides a supply of 200 million doses and an option to request additional 100 million doses."

"Deliveries anticipated to start by end of 2020, subject to regulatory approval."

"Vaccine supply for EU will be produced by BioNTech's manufacturing sites in Germany and Pfizer's manufacturing site in Belgium."

"Companies expect to produce globally up to 1.3 billion doses in 2021."

Market reaction

The Euro Stoxx 50 Index edged higher on this announcement and was last seen gaining 0.42% on the day at 3,457.