Sanofi and GlaxoSmithKline Snag a $2.1 Billion Contract for Their Coronavirus Vaccine

Sanofi (NASDAQ: SNY) and GlaxoSmithKline (NYSE: GSK) secured $2.1 billion from the U.S. government to help support development and manufacturing of their coronavirus vaccine to help prevent COVID-19.

The contract, which is part of Operation Warp Speed, calls for Sanofi and GlaxoSmithKline to deliver 100 million doses of the vaccine in exchange for the upfront financial help. The government also has an option to purchase an additional 500 million doses for an undisclosed amount -- assuming, of course, that the vaccine protects patients in clinical trials.

In addition to the supplying the U.S. government, Sanofi and GlaxoSmithKline noted that they're discussing potential sales to European countries with the EU Commission.

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Source Fool.com