7/31/2020, 1:05 PM (Source: TeleTrader)
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US to pay $2.1B for COVID-19 vaccine to Sanofi, GlaxoSmithKline

The United States government signed an agreement on Friday with Sanofi S.A. and GlaxoSmithKline plc to provide up to $2.1 billion for COVID-19 vaccine testing and manufacturing.

More than half of the funds will be used to support further development of the vaccine, while the remainder will finance the scaling up of manufacturing and delivery of an initial 100 million doses of the vaccine, the pharmaceutical companies stated.

"From the beginning of the pandemic, Sanofi has leveraged its deep scientific expertise and resources to help address this crisis, collaborating with the US Department of Health and Human Services to unlock a rapid path toward developing a pandemic vaccine and manufacturing at large scale. With our partner GSK, we expect our Phase 1/2 study for the recombinant adjuvanted approach to start in September," Sanofi executive VP Thomas Triomphe said in the press release.

Baha Breaking News (BBN) / MD