AstraZeneca bags EC deal for 400 million AZD1222 COVID-19 vaccine doses

In a flurry of novel coronavirus activity, the European Commission (EC) today concluded an agreement mooted in June with Anglo-Swedish pharma major AstraZeneca (LSE: AZN) to supply up to 400 million doses of its AZD1222 COVID-19 vaccine, which was co-invented by the University of Oxford and its spin-out company, Vaccitech.

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. Financial terms were not disclosed.

Building on the existing agreement with Europe’s Inclusive Vaccines Alliance spearheaded by Germany, France, Italy and the Netherlands, this new agreement will give all European Union member states the option to access the vaccine in an equitable manner at no profit during the pandemic. It also allows EU member states to redirect doses to other European countries.