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US government agrees to buy updated Covid-19 vaccines

By Shubhangi Mathur - Jul 30, 2022, 07:10 AM ET
Last Updated - Jun 10, 2024, 03:48 AM EDT
MRNA_building
The pharma companies are modifying current Covid-19 vaccines to provide stronger protection against Omicron variant. The Food and Drug Administration would need to authorize the modified shots

The Biden administration on Friday said it would buy 66 million doses of Moderna Inc (NASDAQ: MRNA) updated Covid-19 vaccine as part of a booster campaign

The Biden administration on Friday said it would buy 66 million doses of Moderna Inc (NASDAQ: MRNA) updated Covid-19 vaccine as part of a booster campaign.

The deal, which is worth $1.74 billion, also includes the option to purchasing up to 234 million additional doses.

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The US government has also agreed to pay $3.2 billion for 105 million doses of Pfizer Inc.’s (NYSE: PFE) Covid-19 vaccine.

The pharma companies are modifying current Covid-19 vaccines to provide stronger protection against Omicron variant. The Food and Drug Administration would need to authorize the modified shots.

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