Pfizer announced Thursday that it reached an agreement with the US to supply 10 million treatment courses of its coronavirus oral antiviral pill for $5.29 billion.

The deal is subject to regulatory authorization from the US Food and Drug Administration (FDA), which Pfizer applied for emergency use authorization on Tuesday.

If approved, Pfizer’s PAXLOVID will become the first oral antiviral for the coronavirus.

As part of the deal, the US will get 10 million treatment courses to be delivered starting later this year and concluding in 2022, according to a statement.

“Pricing for PAXLOVID is based on the principles of advance commitment, volume, equity, and affordability. The price being paid by the U.S. government is reflective of the high committed volume of treatment courses being purchased through 2022,” it said.

Pfizer noted that it has also entered into advance purchase agreements with several countries and has initiated bilateral outreach to approximately 100 countries.

The company announced on Nov. 5 that PAXLOVID reduces the risk of hospitalization or death from the virus by 89%.

“It is encouraging to see a growing understanding of the valuable role that oral investigational therapies may play in combatting COVID-19,” Pfizer Chairman and CEO Albert Bourla said in the statement.

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