Pfizer and Moderna to Dramatically Increase COVID-19 Vaccine Production This Spring

Pfizer and Moderna declared at a congressional hearing on Tuesday that they're on track to deliver 300 million doses of their COVID-19 vaccines each by the end of July, while improvements in production will enable them to boost vaccine shipments even sooner, according to Forbes . Pfizer Chief Business Officer John Young said the company will be able to ship more than 13 million doses by mid-March — up from 4 million to 5 million per week at the start of February — and another 80 million by the end of May. Meanwhile, Moderna President Stephen Hoge said his firm will have shipped 100 million doses of its vaccine to the U.S. government by the end of March, and will accelerate its schedule to send out a second 100 million by the end of May. Pfizer and Moderna's planned vaccine rollout should be enough to inoculate 300 million people by the end of July. Moreover, the federal government is steadily raising the number of vaccines it distributes to states, announcing on Tuesday that states will receive 14.5 million doses this week versus 13.5 million a week earlier.