On Tuesday, President Donald Trump awarded a $354 million contract to a new pharmaceutical company that will manufacture coronavirus drugs in the U.S.
The Biomedical Advanced Research and Development Authority awarded Phlow Corp. the 4-year government contract which could extend to a total of $812 million over 10 years.
“Years from now, historians will see this innovative project as a defining moment and inflection point for protecting American families — and our country — from current and future public health threats,” – White House trade advisor Peter Navarro
Phlow Corp. was founded in January 2020 and plans are to work with a number of private-sector companies and organizations to drive down production costs. 28% of active pharmaceutical ingredients in the country are actually manufactured in the United States.
The move is part of the Trump administration’s efforts to bring the country’s drug supply chain back to the U.S.