30 Companies With the Largest COVID-19 Government Contracts
The coronavirus pandemic has caught governments worldwide unprepared, and many enlisted the private sector to help. The United States was no different, with President Donald Trump even invoking the Defense Production Act. The federal government has mobilized thousands of companies — including some of the largest in the world — awarding them contracts worth hundreds of millions of dollars to help in the response to the COVID-19 pandemic.
Since the outbreak began, the federal government, through its various departments and agencies, has committed a combined $15.2 billion to nearly 4,000 companies — including multinational conglomerates like 3M and General Electric.Under the terms of existing contracts, government spending with these companies could climb as high as $24.8 billion.
Based on contract information published in the Federal Procurement Data System, 24/7 Wall St. identified the 30 companies getting the most from the government in COVID-19 related contracts. We ranked companies based on the maximum potential value of their contracts — the maximum value includes the base value of the order as well the value of all potential options. It is important to note that in most cases the government has not yet exercised all contractual options and the money these companies have received represents a portion of the total potential value of their contracts.
Many of the companies with the most lucrative federal government contracts are apparel manufacturers, like Hanesbrands. These companies are mass-producing products such as face masks and gloves that federal departments like Homeland Security and Health and Human Services are buying up in bulk. Products like these can help contain the spread of COVID-19, and are also selling rapidly to private households and individuals. Here is a list of what Americans bought to prepare for the epidemic.
In almost every case, the companies on this list have had to pivot away from their normal business in order to meet the new needs that have emerged during the pandemic — whether working to develop and manufacture new drugs, or scaling up production of medical equipment like ventilators, or refitting plants altogether to make necessary equipment. Here is a list of companies that have helped Americans fight COVID-19 — with or without a government contract.