The federal government is taking a $1.5 billion dollar gamble on a COVID-19 vaccine.
That’s how much the Department of Health and Human Services is paying Moderna to produce and deliver 100 million doses of its potential vaccine.
The National Institute of Allergy and Infectious Disease helped develop it.
The vaccine is still in clinical trials and has not been approved by the Food and Drug Administration.
However, it is already being manufactured; therefore, if it is approved, it can be rolled out quickly.
The government investment assures the vaccine would be made available at no cost to Americans, although health care providers could charge fees for administering it.
The Trump Administration’s goal is to have a vaccine ready by the end of the year.
The government has reached similar deals with several other pharmaceutical companies producing other vaccine candidates.