Another $2.1 Billion Invested By The U.S. For The Development For An Effective COVID-19 Vaccine
The Government of the United States just bought a substantial amount of doses of experimental COVID-19 vaccine from the leading pharma companies GlaxoSmithKline and Sanofi Pasteur. Wanting to secure an effective candidate, the U.S. has ordered 100 million doses already.
The two Europe-based companies announced that the United States will be spending $2.1 billion for the development of the vaccine including clinical trials, manufacturing, scale-up, and delivery. Sanofi is to get the greater part of the funds.
The government of the U.S. is planning to acquire an additional 500 million doses in the future as a part of its Operation Warp Speed program.
Alex Azar, the Health and Human Services Secretary of the country stated that the portfolio of vaccines put together for Operation Warp Speed increases the odds of having at least one safe and effective one at the end of this year.
He also said that the investment that the government made supporting the adjuvant product made by Sanofi and GSK through clinical trials and manufacturing will secure hundreds of millions of safe and effectual doses for the American people.
The U.K. government has also secured 60million doses of another potential Coronavirus vaccine earlier this week that could be made available in the first half of next year.
As one of many vaccines in development, the vaccine being created by Britain’s GSK and France’s Sanofi’s is based on one existing DNA-based technology that is generally used in making Sanofi’s seasonal flu vaccine.
The executive vice-president of Sanofi Pasteur, Thomas Triomphe stated that as the global demand for an effective COVID-19 vaccine is huge, a single vaccine or company will not be able to provide for the entire world.
In a statement issued by the executive arm of the European Union on Friday, it is made clear that they have made an agreement with Sanofi to provide for an option for all EU member states to purchase the vaccine. If the vaccine works, they plan to offer a contractual framework for the purchase of 300 million doses.
Ursula von der Leyen, the European Commission President announced that they are also in talks with several other companies for a potential vaccine.
She said that as there is no surety of which vaccine will work best in the end, Europe is investing in different promising ones with various types of technologies in order to increase their chances to obtain rapidly an effective remedy against the virus.
I am Darryl Broadhurst and i give investors an insight into the most recent news hitting the “Technology” sector in Wall Street. I have been an independent financial adviser for over 11 years in the city and in recent years turned my experience in finance and passion for journalism into a full time role. I perform analysis of Companies and publicizes valuable information for shareholder community.
