Pfizer, BioNTech shares surge after US deal of $2 billion for 100 million doses of coronavirus vaccine

Shares of both Pfizer and BioNTech surged; Pfizer jumped as much as 6 percent, while BioNTech rose nearly 8 percent afterr signing a $2 billion deal to supply their experimental coronavirus vaccine

The US government will pay $1.95 billion for the doses when they’re manufactured and Pfizer obtains approval or emergency use authorization from the Food and Drug Administration. The government can also acquire up to 500 million additional doses of the vaccine under the agreement.

The agreement with Pfizer and BioNTech is part of the US government’s Operation Warp Speed program goal to begin delivering 300 million doses of a vaccine for COVID-19 in 2021.