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Terms provide equitable access to Covid-19 vaccine
Pfizer and BioNTech SE announced an advance purchase agreement with COVAX for up to 40 million doses of their Covid-19 vaccine. Financial terms of the agreement were not disclosed, but the doses are expected to delivered throughout 2021, beginning in Q1.
COVAX is a global initiative coordinated by the Global Alliance for Vaccines and Immunization (GAVI), the Coalition for Epidemic Preparedness Innovations (CEPI) and the World Health Organization (WHO), intended to provide fair access to Covid-19 vaccines for all countries, regardless of income levels. COVAX includes an Advanced Market Commitment (AMC) financial mechanism that aims to ensure that 92 low- and lower-middle-income countries will be able to secure access to Covid-19 vaccines at the same time as higher-income countries, so that they can distribute them accordingly.
Regarding the COVAX Advanced Market Commitment, 92 countries, Pfizer and BioNTech will provide the vaccine to COVAX at a not-for-profit price.