Coronavirus: Commission reaches first agreement on a potential vaccine

Today, the European Commission has reached a first agreement with the pharmaceutical company AstraZeneca to purchase a potential vaccine against COVID-19 as well as to donate to lower and middle income countries or re-direct to other European countries. Today’s agreement is the first cornerstone in implementing the European Commission’s Vaccines Strategy. This strategy will enable us to provide future vaccines to Europeans, as well as our partners elsewhere in the world.” The agreement approved today will be financed with the Emergency Support Instrument, which has funds dedicated to the creation of a portfolio of potential vaccines with different profiles and produced by different companies.AstraZeneca’s vaccine candidate is already in large-scale Phase II/III Clinical Trials after promising results in Phase I/II concerning safety and immunogenicity.
The European Commission presented on 17 June a European strategy to accelerate the development, manufacturing and deployment of effective and safe vaccines against COVID-19. Since the high cost and high failure rate make investing in a COVID-19 vaccine a high-risk decision for vaccine developers, these agreement will therefore allow investments to be made that otherwise would simply probably not happen.This is why it has raised almost €16 billion since 4 May 2020 under the Coronavirus Global Response, the global action for universal access to tests, treatments and vaccines against coronavirus and for the global recovery.

Read more at: https://ec.europa.eu/commission/presscorner/detail/en/ip_20_1438