Ottawa Secures Access To Pfizer’s Covid-19 Vaccine - InvestingChannel

Ottawa Secures Access To Pfizer’s Covid-19 Vaccine

Ottawa is wasting no time securing doses of Pfizer’s (NYSE:PFE) Covid-19 vaccine.

The Government of Canada has ordered 20 million doses of Pfizer’s vaccine and has an option to purchase an additional 56 million doses, if needed.

Shares of Pfizer rose as much as 15% on Monday after the pharmaceutical company disclosed that its Covid-19 vaccine prevented more than 90% of symptomatic infections in a trial of tens of thousands of volunteers. The news sparked a broad-based market rally that offered fresh hope of an end to a pandemic that has killed more than 1.2 million people worldwide.

The federal government in Ottawa has already secured agreements to buy 350 million doses of Covid-19 vaccines from seven different pharmaceutical companies. The dose count could rise to 414 million if the federal government exercises options with all of those drug makers.

In addition to the vaccines, the Government of Canada has also secured tens of millions of supplies, including syringes, waste containers, alcohol swabs, bandages and gauze strips to help administer the doses.

Officials in Ottawa are also involved in contract negotiations with several shipping and distribution companies tasked with delivering the vaccine across the country.