The European Union (EU) has recently entered into an Advance Purchase Agreement (APA) with AstraZeneca, a leading pharmaceutical company, for the supply of a COVID-19 vaccine. The agreement is part of the EU’s efforts to secure early access to safe and effective vaccines against the coronavirus.
The APA with AstraZeneca is for the supply of up to 400 million doses of their vaccine, which is being developed in collaboration with the University of Oxford. The vaccine candidate is currently in Phase III clinical trials, and if successful, it could be authorized for use in the EU by the end of 2020.
The APA is a legally binding agreement between the EU and AstraZeneca, which sets out the terms and conditions for the supply of the vaccine. It provides the EU with the option to purchase the vaccine once it has been authorized for use in the EU, and AstraZeneca will be required to deliver the doses within an agreed timeframe.
The agreement also includes provisions for the EU to make an upfront payment to AstraZeneca to support the development and manufacturing of the vaccine. This is an important step in ensuring that the vaccine is available as soon as possible, and that the manufacturing capacity is in place to produce the required number of doses.
One of the key benefits of the APA is that it provides the EU with greater certainty and predictability in terms of vaccine supply. By securing a large number of doses in advance, the EU can ensure that it has access to the vaccine as soon as it becomes available, and that it can be distributed fairly and efficiently across all Member States.
The APA with AstraZeneca is just one of several such agreements that the EU has signed with pharmaceutical companies for the supply of COVID-19 vaccines. This approach is part of the EU’s overall strategy for tackling the pandemic, which includes investing in research and development, strengthening healthcare systems, and promoting international cooperation.
In summary, the EU’s Advance Purchase Agreement with AstraZeneca is an important step towards ensuring that safe and effective vaccines against COVID-19 are available to all EU citizens. By securing a large number of doses in advance, the EU can provide greater certainty and predictability in terms of vaccine supply, and ensure that the vaccine is distributed fairly and efficiently across all Member States.