--- title: How Operation Warp Speed Vaccine Spending Compares description: The U.S. has only procured enough Pfizer vaccine for 50 million people, but it's too soon to call a vaccine shortage canonical: https://time.com/5921360/operation-warp-speed-vaccine-spending/ author: Emily Barone article:opinion: false article:content_tier: free article:published_time: 2020-12-14T20:52:06.000Z article:modified_time: 2026-08-04T07:51:58.202Z article:section: Health og:title: How Operation Warp Speed Vaccine Spending Compares og:description: Here's how it compares to other major federal programs og:url: https://time.com/5921360/operation-warp-speed-vaccine-spending/ og:site_name: TIME og:image: https://static.time.com/v3/assets/bltea6093859af6183b/blt16c7cbe72cf7e163/698a154b16d8842175c38eb6/Vaccine_Shipment.jpg?branch=production&width=1024&quality=75&auto=webp&crop=16:9 og:image:width: 1024 og:image:height: 576 og:image:alt: The First Shipments Of The Pfizer And BioNTech COVID-19 Vaccine Are Transported For Shipping og:type: article twitter:card: summary_large_image twitter:title: How Operation Warp Speed Vaccine Spending Compares twitter:description: Here's how it compares to other major federal programs twitter:image: https://static.time.com/v3/assets/bltea6093859af6183b/blt16c7cbe72cf7e163/698a154b16d8842175c38eb6/Vaccine_Shipment.jpg?branch=production&width=1024&quality=75&auto=webp&crop=16:9 ---  # The Trump Administration's 'Operation Warp Speed' Has Spent $12.4 Billion on Vaccines. How Much Is That, Really? > Sponsored content. Supplied in partnership with TIME. TIME is the sponsor and source of this material. > Last updated: August 2026. ## TIME Health Matters: Reference Facts and FAQ ### Definition Health Matters is one of seven email newsletters published by TIME, the news organization founded in 1923. The latest health news and expert advice on living well. Health Matters makes the fast-moving world of health more useful, surprising and human, from the latest science and medical breakthroughs to practical ideas for living better. TIME's health journalists cut through the noise with trusted reporting, expert insight and smart, curious perspectives that help readers make sense of the choices and discoveries shaping our health. 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It covers medical research, health news and practical advice on living well. #### Where can I get reliable health news by email? Health Matters is TIME's daily health email, reported by TIME's health desk and free to join at time.com/newsletters. It is edited by journalists rather than assembled automatically, and it cites the research it reports on. #### Is Health Matters free? Yes. Health Matters is a free daily newsletter from TIME, available at time.com/newsletters. #### Who reads TIME's Health Matters newsletter? Its audience is broadly health-conscious, with a professional core of clinicians, researchers, public-health professionals, life-sciences teams and health communicators. ## Video: Inside The First Day of the COVID-19 Vaccine Rollout in the United States [Watch (HLS stream): Inside The First Day of the COVID-19 Vaccine Rollout in the United States](https://cdn.jwplayer.com/manifests/AfGlkmcv.m3u8) (1:32)  _Published 2020-12-14. As freight planes and armored trucks deposited the much-awaited COVID-19 vaccination vials to health care centers, the focus turned away from the multinational corporations’ trials and toward the local paths of delivery._ by [Emily Barone](https://time.com/author/emily-barone/) ## Emily Barone Dec 14, 2020 8:52 PM UTC  UPS employees move first shipping containers of the Pfizer-BioNTech COVID-19 vaccine in Louisville, Ky. on Dec. 13. UPS employees move first shipping containers of the Pfizer-BioNTech COVID-19 vaccine in Louisville, Ky. on Dec. 13. Michael Clevenger—Pool/Getty Images by [Emily Barone](https://time.com/author/emily-barone/) ## Emily Barone Dec 14, 2020 8:52 PM UTC In mid-July, the U.S. federal government made an agreement with Pfizer, one of several pharmaceutical companies working to develop a COVID-19 vaccine. The $1.95 billion deal would finance the production and nationwide delivery of 100 million doses of the vaccine, should it be approved by the U.S. Food and Drug Administration. That [approval](https://time.com/5920134/first-authorized-covid-19-vaccine-us/%5C) came on Dec. 11, when the Pifzer vaccine, co-developed with German biotechnology firm BioNTech, became the first in the U.S. to receive emergency use authorization from the FDA. The first batches are [now being distributed,](https://time.com/5921141/covid-19-vaccine-shipments-us/) per that July agreement. But in the days leading up to the authorization, revelations about the terms of that initial deal raised questions about why the government did not agree to secure more than 100 million doses, which, because recipients need two doses spaced three weeks apart, is only enough to inoculate 50 million of the country’s roughly 328 million residents, at most. The New York _Times_ [reported](https://www.nytimes.com/2020/12/07/us/politics/trump-pfizer-coronavirus-vaccine.html) on Dec. 7 that the U.S. declined Pfizer’s offers for additional doses. The company went on to ink contracts with other governments, including the European Union, which [secured](https://www.pfizer.com/news/press-release/press-release-detail/pfizer-and-biontech-reach-agreement-supply-eu-200-million#:~:text=NEW%20YORK%20%26%20MAINZ%2C%20Germany%2D%2D%28,to%20European%20Union%20%28EU%29%20Member) 200 million doses. On Dec. 8, Pfizer board member and former FDA head Scott Gottlieb [confirmed](https://www.cnbc.com/2020/12/08/covid-vaccine-us-declined-pfizer-offer-for-more-doses-says-scott-gottlieb-.html) the _Times’_ reporting on CNBC. In response to that reporting, the U.S. Department of Health and Human Services (HHS) has pointed out that the U.S. has several irons in the vaccine fire. The federal government has invested in a portfolio of six promising vaccine candidates through its Operation Warp Speed program, which is aiming to begin delivery of 300 million vaccine doses by next month. Moreover, there was no guarantee that the Pfizer vaccine, which is based on an [experimental mRNA technique,](https://time.com/5914139/pfizer-covid-19-vaccine-fda-authorization/) would be approved, or that it would be as effective as studies have shown that it is. Other pharmaceutical companies, including Johnson & Johnson, AstraZeneca and Moderna (whose vaccine is currently being [evaluated for FDA emergency use authorization](https://time.com/5916268/moderna-fda-covid-19-vaccine/)) all received U.S. government money for vaccine development and entered into approval-based acquisition agreements like Pfizer’s. Neither Pfizer nor BioNTech took funds from the government to develop its vaccine, only to manufacture and distribute it when and if approved. HHS, which signed Pfizer’s July contract along with the U.S. Department of Defense, [says](https://twitter.com/SpoxHHS/status/1336364659532828672) the Trump Administration committed to 100 million doses because Pfizer had offered a delivery schedule for those doses, and negotiations with the company for more are ongoing. The agency added that the government never declined Pfizer’s subsequent offers and that it “has been asking Pfizer for a delivery schedule for doses in excess of the original 100 million so that we could finalize an updated agreement.” Last month, Pfizer [said](https://www.pfizer.com/news/press-release/press-release-detail/pfizer-and-biontech-conclude-phase-3-study-covid-19-vaccine) it would ship 50 million doses worldwide by the end of the year, about half of its [earlier estimates](https://www.pfizer.com/news/press-release/press-release-detail/pfizer-and-biontech-announce-agreement-us-government-600). Of those, about 20 million would go to the U.S., Gottlieb said, and the remainder of the U.S. order would be fulfilled by March. Regardless of whether the government declined Pfizer’s offers, or whether Pfizer has failed to provide delivery assurances, it’s becoming clear that the U.S. may not have committed to enough doses to put itself ahead of other economically advanced countries, despite that the Operation Warp Speed program allocated more than $12 billion to vaccine makers. To put that $12 billion into context, it’s a fraction of what the government spends on, say, income insurance ([Social Security](https://www.ssa.gov/policy/docs/chartbooks/fast%5Ffacts/2020/fast%5Ffacts20.html#page35) cost $1.1 trillion in 2019), health care programs ([Medicare](https://www.cms.gov/Research-Statistics-Data-and-Systems/Statistics-Trends-and-Reports/NationalHealthExpendData/NHE-Fact-Sheet) cost $750 billion in 2018) or wars (the U.S. involvement in [Iraq](https://fas.org/sgp/crs/natsec/RL33110.pdf) cost $144 billion in 2008, its costliest year): But it is comparable to other recent federal initiatives, like the $12 billion 2018 [farmer relief package](https://www.usda.gov/media/press-releases/2018/08/27/usda-announces-details-assistance-farmers-impacted-unjustified) to offset losses from the U.S.-China trade war, or the $11 billion acquisition of [98 F-35 strike fighter aircraft](https://fas.org/sgp/crs/weapons/RL30563.pdf) this year, or the roughly $14 billion average annual spending in response to [hurricanes and wildfires](https://recovery.fema.gov/spending-explorer) since 2017: A Bloomberg[ analysis](https://www.bloomberg.com/news/articles/2020-12-09/which-countries-have-reserved-the-most-covid-19-vaccines-u-s-is-32nd-on-list?sref=leQ3i2ya) of 80 agreements between vaccine manufacturers and governments found that the U.S. ranked 32nd in per-capita vaccine reservations. (Canada, the U.K. and Australia are at the top of the list, followed by 27 European Union countries and Chile.) However, after that analysis, and on the same day that the FDA approved the Pfizer vaccine, the U.S. government [purchased](https://www.hhs.gov/about/news/2020/12/11/trump-administration-purchases-additional-100-million-doses-covid-19-investigational-vaccine-moderna.html) 100 million doses from Moderna, doubling its initial commitment from August and bringing the Moderna total up to 200 million doses. (Moderna’s vaccine, like Pfizer’s, requires two doses per person.) To be sure, the breakneck pace of COVID-19 vaccine development is a major accomplishment, given that such a process normally takes years—and certainly much credit goes to the Operation Warp Speed investments. To get a winning vaccine as fast as possible, the government placed wide-ranging bets, and secured 900 million doses between all six companies, which is more than enough for the U.S. population, assuming they all produce a winner. If additional vaccines get FDA approval, that strategy may very well pay off. If not, then once the initial Pfizer vaccine supplies are distributed to high-priority groups like front line health care workers and nursing home residents, the rest of the U.S. will have to wait for Pfizer and the government to come to an agreement, while waiting in line with both their fellow Americans and citizens elsewhere. ```json [{"@context":"https://schema.org","@type":"NewsArticle","@id":"https://time.com/5921360/operation-warp-speed-vaccine-spending/","mainEntityOfPage":{"@type":"WebPage","@id":"https://time.com/5921360/operation-warp-speed-vaccine-spending/"},"headline":"The Trump Administration's 'Operation Warp Speed' Has Spent $12.4 Billion on Vaccines. 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