Skip to main content

Jim Cramer on Pfizer: Don't Buy Off the Vaccines

Jim Cramer weighs in on the U.S. buying Pfizer's vaccine.

There are 14.9 million cases of the virus worldwide, with over 616,000 deaths.

The U.S. has over 3.9 million cases with over 142,000 deaths. The U.S. reported more than 1,000 deaths from Covid-19 on Tuesday, marking the first time since June 10 that the country has surpassed that mark.

Pfizer and BioNTech announced this morning that the U.S. government placed an order for 100 million doses for nearly $2 billion. The government also has the ability to acquire up to 500 million additional doses.

This deal will help the U.S. government deliver 300 million doses of a COVID-19 vaccine in 2021, 100 million of them being the vaccine candidate from Pfizer if all goes well.

This comes as Pfizer and BioNtech prepare for the next step in their trials, and the vaccine candidate could face regulatory approval as early as October if everything goes well.

Americans will receive the vaccine for free, due to the U.S. government’s commitment to free access for COVID-19 vaccines.

“We’ve been committed to making the impossible possible by working tirelessly to develop and produce in record time a safe and effective vaccine to help bring an end to this global health crisis,” said CEO Albert Bourla. “We made the early decision to begin clinical work and large-scale manufacturing at our own risk to ensure that product would be available immediately if our clinical trials prove successful and an Emergency Use Authorization is granted."

You can follow Jim Cramer and Katherine Ross on Twitter at @JimCramer and @byKatherineRoss. Read more from Katherine Ross here.

Watch More of the Latest Videos on TheStreet and Jim Cramer