Pharma giant AstraZeneca strikes deal with Europe's Inclusive Vaccines

Pharma giant AstraZeneca has struck a deal with Europe's Inclusive Vaccines Alliance to supply up to 400 million doses of an experimental COVID-19 vaccine.

The alliance forged by Germany, France, Italy and the Netherlands to speed up production of a coronavirus vaccine is set to take delivery by the end of 2020 of a vaccine being tested by the University of Oxford. The agreement struck Saturday aims to make the vaccine available to other European countries that wish to take part.

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The cost is expected to be offset by funding from the governments.

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. A license also has been agreed with the Serum Institute of India for another 1 billion doses.

Other companies, including Moderna and Sanofi, are racing to develop and produce a vaccine against the new coronavirus, a step experts say will be crucial to easing restrictions on public life and preventing additional waves of infections.