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Trump says U.S. has reached deal with Moderna for 100 million doses of coronavirus vaccine

US President Donald Trump speaks to the press in the Brady Briefing Room of the White House in Washington, DC, on August 10, 2020.Brendan Smialowski | AFP | Getty Images

President Donald Trump on Tuesday announced the U.S. government will purchase 100 million doses of Moderna's experimental coronavirus vaccine, which is currently in late-stage human trials.

Moderna separately said the deal for its vaccine, mRNA-1273, is worth $1.525 billion and will give the federal government the option to purchase up to 400 million additional doses. The U.S. has already invested $955 million to develop Moderna's vaccine, bringing its total investment up to $2.48 billion, the company said in a press release Tuesday.

The U.S. government's deal with Moderna follows similar agreements its made with pharmaceutical giants Pfizer and Johnson and Johnson for their potential Covid-19 vaccines.

This is a developing story. Please check back later for updates.

CNBC

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