Bengaluru/New Jersey — The US government will pay $1.95bn to buy 100-million doses of Pfizer and German biotech firm BioNTech’s Covid-19 vaccine candidate if they are able to successfully develop one, the companies said on Wednesday.

The contract is the most the US has agreed to spend on a vaccine yet, but the previous deals the government signed helped pay for drugmakers’ development costs. Pfizer and BioNTech will not receive any money from the government unless their vaccine is deemed to be safe and effective and is successfully manufactured, according to a Pfizer spokesperson...

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