The EU and COVID-19 vaccines
On 17 February 2021, Japan launched its vaccination drive against novel coronavirus with a ground-breaking vaccine developed by European start-up BioNTech and co-produced with US pharmaceutical company Pfizer Inc. The European Union, already in the first weeks after COVID-19 was recognised as a pandemic, has been in the forefront of efforts to develop vaccines for the benefit of people around the world.
More than 2.3 billion doses for EU citizens
A safe and effective vaccine is our lasting way out of the novel coronavirus pandemic. As mandated by the EU’s 27 Member States, the European Commission has been negotiating intensely to build a diversified portfolio of vaccines for EU citizens at fair prices. Contracts have so far been concluded with six promising vaccine developers, securing a portfolio of more than 2.3 billion doses.
To date, the Commission has given three conditional marketing authorisations for the vaccines developed by BioNTech (Germany) and Pfizer (US), Moderna (US) and AstraZeneca (UK/Sweden) following the European Medicines Agency’s positive assessment of their safety and efficacy.
The Commission has also concluded exploratory talks with Novavax (US) with a view to purchasing up to 200 million doses, and with Valneva (France) with a view to purchase up to 60 million doses.
EU investment in vaccine development and production
Vaccine development is a complex and lengthy process, which normally takes around 10 years. With the EU Vaccines Strategy, the Commission has been supporting efforts to accelerate the development and availability of safe and effective vaccines in a timeframe between 12 and 18 months, if not earlier, while ensuring strict and robust authorisation procedures and safety standards. This requires running clinical trials in parallel with investing in production capacity to be able to produce millions, or even billions, of doses of a successful vaccine.
In a ‘Team Europe’ approach, the Commission finances a part of the upfront costs faced by vaccines producers from the EUR 2.7 billion Emergency Support Instrument. This funding will be considered as a down payment on the vaccines that will actually be purchased by Member States. Additional support is possible through loans from the European Investment Bank. This approach decreases risks for companies while speeding up and increasing manufacturing.
Transparency in vaccine exports and fair distribution worldwide
On 30 January, the EU adopted a set of targeted and temporary measures requiring that exports of COVID-19 vaccines outside the EU require prior authorisation until the end of March 2021.
The overarching aim is to ensure transparency, at a time when the hopes of billions around the world hinge on getting these vaccines as soon as possible. This mechanism is not an export ban, and will be implemented in a way that is targeted, transparent, proportionate, temporary and consistent with the EU’s obligations under the World Trade Organisation. Given the current global vaccine shortage, it is imperative to ensure an equitable distribution worldwide.
More information here: https://eeas.europa.eu/delegations/japan/92574/covid-19-vaccine-supplies-and-export-transparency_en
Support for vaccines as a global public good
Global solidarity is crucial to end the pandemic, as we will not be safe until everyone is safe. The EU is committed to making the COVID-19 vaccine a global public good. This is why all of our actions to defeat the virus choose multilateralism and partnerships.
In May 2020, the EU together with other partners including Japan co-hosted the Coronavirus Global Response pledging marathon, which raised a total of EUR 15.9 billion for the collaborative development and universal deployment of vaccines, tests and treatments. This support has helped to speed up a process that usually takes years into less than one year.
The EU and its partners set up the Access to COVID-19 Tools (ACT) Accelerator initiative, of which the COVAX is the vaccine pillar that brings together governments and manufacturers to ensure COVID-19 vaccines reach those most in need. So far, Team Europe has provided support of EUR 850 million to the COVAX Facility, helping secure 1.3 billion doses of vaccines for 92 low and middle-income countries by the end of 2021.
The announcement on 3 February of the first interim distribution forecast for the allocation of COVAX vaccines for the first half of 2021 is an important development in the global effort to fight the pandemic.
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