- President Donald Trump praised Operation Warp Speed after the Food and Drug Administration issued emergency authorization for Pfizer and BioNTech's COVID-19 vaccine.
- "We have given Pfizer and other companies a great deal of money, hoping this would be the outcome, and it was," Trump said.
- Pfizer received close to $2 billion for manufacturing and distribution, but unlike the other companies, it took no money for research or development.
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President Donald Trump praised Operation Warp Speed, a federal initiative to deliver a COVID-19 vaccine, after the Food and Drug Administration issued emergency authorization for the COVID-19 vaccine developed by Pfizer and BioNTech.
"We have given Pfizer and other companies a great deal of money, hoping this would be the outcome and it was," Trump said.
Operation Warp Speed gave Pfizer financial backing for manufacturing and distribution, but the company, unlike others, did not accept funds for research and development.
In July, President Trump's administration ordered 100 million doses of Pfizer's vaccine for $1.95 billion but did not pay the money upfront. The contract rested on whether the vaccine would get authorized.
In comparison, Moderna received $955 million to advance clinical trials and another $1.5 billion to manufacture and deliver 100 million vaccine doses.
The operation has also funded clinical-trial research and bought 100 million vaccine doses from three other companies: AstraZeneca, Johnson & Johnson, and Sanofi-GlaxoSmithKline. Additionally, Warp Speed also bought 100 million doses from Novavax.
In clinical trials, Pfizer's vaccine was found to be 95% effective at preventing symptomatic cases of COVID-19.
FDA Commissioner Stephen Hahn called the authorization of the vaccine "a significant milestone in battling this devastating pandemic."
Trump said the vaccine would be free to all Americans.
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