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Trump says Pfizer is taking ‘a huge financial risk’ in the development of the coronavirus vaccine



President Trump said Wednesday that Pfizer took a “huge financial risk” in developing a coronavirus vaccine, but that the drug giant is confident of the results.

Pfizer CEO Albert Bourla has said the company could possibly know by October whether its potential vaccine to combat COVID-19 is effective.

“They take a huge risk and they spend billions of dollars on actually making this vaccine,”

; Trump told reporters during a White House briefing, “They are at this point where they are actually making it because they feel very convinced of the results. “

He said the company would announce its results “very soon.”

Trump also disputed a timeline for a vaccine after Dr. Robert Redfield, director of the USCenters for Disease Control and Prevention, told Congress earlier in the day that it would be ready for the public, possibly by the third quarter of next year.

Trump said he thought Redfield was “confused.”

“I think he made a mistake when he said that. It’s just misinformation,” Trump said.

He said the first vaccine doses could be distributed immediately when ready. The development of a vaccine is part of “Operation Warp Speed”, the Trump administration’s $ 1.95 billion deal with Pfizer and the German company BioNTech.

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Pfizer’s Bourla recently said there is a “good chance” he will have by the end of October whether the company’s potential vaccine will work.

“In our best case, we have a pretty good chance – more than 60% – but we know if the product works or not by the end of October,” Bourla said in a recent interview. “It does not mean it works, it means we know if it works.”

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