The two companies will increase production by 50% to meet global demand.
US pharmaceutical company Pfizer and its German partner BioNTech on Monday announced they plan to increase the production of their COVID-19 vaccine by 50 percent to 2 billion doses this year to meet global demand.
BioNTech announced the increased supply as part of a presentation at the healthcare conference. The company said the new production site in Marburg, Germany, will produce up to 750 million doses per year. The facility is expected to be operational by the end of next month. This means that six plants will produce the vaccine: three in Germany and three Pfizer plants in the United States.
Two companies have already committed to producing a billion doses. Last week, the European Union announced a deal to supply an additional 300 million doses of the vaccine, doubling its planned purchase volume.
Last week, the World Health Organization (WHO) said it was continuing talks with companies to provide vaccine doses for the COVAX cooperative, an agency set up to provide vaccines to low-income countries. No agreement has yet been reached.