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Pfizer and BioNTech Get Massive EU Covid-19 Vaccine Order

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Pfizer (PFE) - Get Report and BioNTech (BNTX) - Get Report have struck a deal to provide 200 million doses of their Covid-19 vaccine candidate to the European Union, the drugmakers' largest order for the potential vaccine to date.

As part of the deal, the EU has an option to request an additional 100 million doses, the companies said in a statement. Deliveries are expected to begin by the end of 2020, subject to regulatory approval. Financial terms of the deal weren't disclosed.

The deal follows the companies' blockbuster announcement on Monday that their vaccine candidate, BNT162b2, had a more than 90% efficacy rate in Phase 3 trials.

Pfizer's announcement on Monday sparked a global rally in stocks amid expectations that the Covid-19 pandemic that has infected more than 51.5 million and killed nearly 1.3 million globally will soon be brought under control.

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