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EU plans advance purchase of up to six promising COVID-19 vaccines

The European Commission is seeking a mandate from EU governments to buy in advance from pharmaceutical firms up to six promising vaccines against the coronavirus, two officials told Reuters.

The EU executive will ask EU health ministers at a video conference meeting on Friday to back the plan, as the bloc fears it may not have enough shots if a vaccine is developed, the officials said.

“We pay upfront a significant part of the investment needed in exchange for a commitment from the pharmaceutical manufacturer to give us a vaccine when is available if it is successful,” a third Commission official told a news conference.

As part of the plan, the Commission will also propose a temporary softening of regulatory requirements to develop vaccines that contain genetically modified organisms (GMOs), the official said, confirming an earlier Reuters report.

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Meeta Ramnani
Meeta Ramnani
Meeta develops credible content about various markets based on deep research, opinions from experts and inputs from industry leaders. As the managing editor at Smart Industry News, she assures that every piece of news and article adds to the knowledge of decision makers. An avid bike rider, Meeta, is a postgraduate from Indian Institute of Journalism and New Media (IIJNM) Bangalore, where her specialization was Business Journalism. She carries experience from mainstream print media including The Times Group and Sakal Media Group.