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Israel secures 8 million doses of Pfizer vaccine in a $237 million contract.

Image Credit: Kobi Gideon/GPO

Israel signed an agreement with the US company Pfizer for the delivery of 8 million doses upon completion of its safety testing, and when the company starts supplying the vaccine to countries.

Israel will most likely give an initial amount of $35 million as an upfront payment. The rest, $202 million will be paid upon delivery of the 8 million doses. If delivery could not be done according to the date stipulated due to circumstances such as increased demand by US or other countries, Israel will expect a refund.

The Prime Minister of Israel Benjamin Netanyahu praised both the Israeli Health Minister and Pfizer CEO for making the deal happen.

It is a great day for the state of Israel and a great day on the way to our victory over the coronavirus. Our national mission is to enable a vaccine for every person in Israel whoever wants one- without exception.

Prime Minister of Israel Benjamin Netanyahu.

Professor Eran Segal, a computational biologist at the Weizmann Institute of Science estimated that with just 500,000 doses of the vaccine, the death rate could be reduced by 65%, if it is 90% effective and given to those above 75 years old. Significant quantities of the vaccine are expected to be delivered in the beginning of 2021. Israel has deals with two othet pharmaceutical companies for the vaccine, and Isreal is also producing its own.

The Prime Minister of Israel urged patience until the vaccine arrives, while he urged all citizens to obey COVID-19 rules.

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