BioNTech, Pfizer to sell 40 million doses to lower-income countries

BioNTech SE
BNTX,
+2.85%
and Pfizer Inc.
PFE,
+0.19%
said Friday that they plan to sell 40 million doses of their COVID-19 vaccine this year to Covax, a group that aims to ensure 92 lower-income countries have access to coronavirus vaccines. BioNTech’s stock gained 1.2% in trading on Friday, while shares of Pfizer were up 0.3%. The companies said they are providing their vaccine to Covax at a not-for-profit price; however, the financial terms of the agreement were not disclosed. Their vaccine has emergency authorization in the U.S., as well as in several other countries, and the World Health Organization, which is part of Covax, has also granted it emergency validation. BioNTech’s stock has soared 174.6% over the past 12 months, while Pfizer shares have tumbled 3.8%. The S&P 500
SPX,
-0.30%
is up 16.0% over the past year.