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A version of this story appeared in the July 23 edition of CNN's Coronavirus: Fact vs. Fiction newsletter. Sign up here to receive the need-to-know headlines every weekday. As countries around the world rush to shore up supplies of coronavirus vaccines before they have even been approved, the Trump administration on Wednesday announced a contract worth nearly $2 billion with Pfizer and a German biotechnology company to secure 100 million doses by the end of the year.
The massive investment is part of America's Operation Warp Speed, a sprawling effort to deliver millions of safe and effective doses of a vaccine by January 2021. To meet that ambitious target, the US government has been snapping up contracts with the candidates most likely to succeed and throwing billions in federal funding at promising programs -- more than $5 billion so far. Similar efforts are also underway in the European Union.
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