The government of New Zealand government has signed a deal on 12 October 2020 to buy 1.5 million COVID-19 vaccine doses from Pfizer Inc (NYSE:PFE) and Germany's BioNTech (Nasdaq:BNTX), with delivery potentially as early as the first quarter of 2021, Reuters news agency reported on Monday.

The government did not disclose financial terms of the deal, its first vaccine purchase, which will provide enough doses to vaccinate 750,000 people.

According to government officials, talks were continuing with other drug companies to secure more vaccine supplies for the country of five million people and further announcements were expected next month.

Research Minister, Megan Woods, was quoted as saying in a statement: "The additional agreements will ensure that once the portfolio is completed, we will have sufficient COVID-19 vaccines for the whole population."

The Pfizer-BioNTech vaccine is consider as one of the leading candidates in the race to be the first to get regulatory approval in the US and Europe.

New Zealand has reported just over 1,500 cases, including 25 deaths, far less than most other developed nations.