Economy

AstraZeneca deal to supply European Union with 300 million COVID-19 vaccine doses

AstraZeneca deal to supply European Union with 300 million COVID-19 vaccine doses”

The agreement signed by the Anglo-Swedish company and Europe's Inclusive Vaccines Alliance will also make the vaccine available to any European Union country that wishes to take part in the initiative.

Sinovac's development of a vaccine against COVID-19 began in January 2020 in partnership with leading academic research institutes in China.

The EU population of around 447 million requires the anti-virus vaccine, and the pharmaceutical group AstraZeneca is ready to supply to the EU of 300 million doses of a possible coronavirus vaccine, the German government confirmed on Saturday.

AstraZeneca, an Anglo-Swedish company, recently completed similar agreements with Britain, the United States the Coalition for Epidemic Preparedness Innovations, and Gavi, the Vaccine Alliance for 700 million doses. In May, Moderna, a Cambridge, Mass. -based biotech firm, announced early and encouraging immune-response results for its experimental Covid-19 vaccine - although vaccine experts criticized the company for not disclosing enough detailed data.

"With our European supply chain due to begin production soon, we hope to make the vaccine available widely and rapidly", said Pascal Soriot, Chief Executive Officer of the AstraZeneca in a statement.

At a meeting of EU Health Ministers on Friday, IVA agreed to merge its activities with those of the EU Commission, Germany's Health Ministry said.

More news: Varner takes early 1-shot lead over Spieth at Colonial

The deal with the alliance, spearheaded by Germany, France, Italy and the Netherlands, "aims to accelerate the supply of the vaccine and to make it available to other European countries that wish to participate in the initiative", the UK-based pharmaceutical company said.

AstraZeneca has bought the licence to produce the drug and the British government has already ordered 30 million doses.

There are no approved vaccines or treatments for Covid-19, the highly contagious respiratory illness caused by the novel coronavirus.

Since lockdowns and social-distancing measures have helped to keep infection rates low in many countries, some of the world's leading vaccine efforts are seeking to conduct phase III trial in active outbreaks to evaluate the effectiveness of their shots.

It has agreed manufacturing deals globally to meet its target of producing 2 billion doses of the vaccine, including with two ventures backed by Bill Gates and a $1.2 billion agreement with the USA government.



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