Moderna Offers U.S. Fail-Safe on Vaccines If Pfizer Falls Short


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Source: Bloomberg

By Robert Langreth; December 10, 2020, 12:10 PM EST

  •  Government has option for 400 million doses at $16.50 each
  •  Added doses could roll out starting in April, Moderna says

Moderna Inc. could offer a fail-safe option that will allow the U.S. to get enough Covid-19 shots to inoculate most Americans if the government can’t reach an agreement to quickly buy more vaccine from Pfizer Inc., which plans to honor its contracts with other countries.

Existing U.S. deals with Pfizer and Moderna for 100 million doses of each company’s vaccine are only enough to inoculate a maximum of 100 million people combined. But earlier this year, Moderna said the U.S. has the option to buy 400 million more doses at a fixed price of $16.50 per shot.

It’s an agreement that could turn out to be especially valuable if the White House is forced to wait for Pfizer to replenish its inventory. No haggling is required to get Moderna’s added doses; all the U.S. has to do is opt in for the bigger number after the vaccine is cleared by U.S. regulators, according to a securities filing.

“The U.S. Supply Agreement provides the U.S. Government with four additional and separate options to purchase 100 million doses per option of mRNA-1273,” Moderna said in the filing earlier this year. “Each option is exercisable at the sole discretion of the U.S. Government,” at various times during the first half of 2021.

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1 reply

  1. Moderna Inc. said the U.S. government exercised its option to buy 100 million additional doses of the company’s coronavirus vaccine candidate, doubling the amount of the shot it initially committed to purchase and easing concern that the U.S. could be left with a vaccine shortfall.

    Moderna said Friday that the order, worth $1.65 billion, would be delivered during the second quarter of 2021. The Cambridge, Massachusetts-based drugmaker will be able to provide a continuous supply of vaccine doses through the end of June, according to the U.S. government.

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