Economy 12 January 2021, 4:45pm

EU looks to buy COVID-19 vaccine from new producer

Portfolio

The European Commission has on Tuesday concluded exploratory talks with the pharmaceutical company Valneva with a view to purchasing its potential vaccine against COVID-19. The envisaged contract with Valneva would provide for the possibility for all EU Member States to purchase together 30 million doses, and they could further purchase up to 30 million more doses.

Today's finalisation of exploratory talks with Valneva come in addition to an already secured broad portfolio of vaccines to be produced in Europe, including the contracts already signed with

This diversified vaccines portfolio will ensure Europe is well prepared for vaccination, once the vaccines have been proven to be safe and effective, as is already the case for BioNTech/Pfizer and Moderna, recently authorised in the EU.

Member States are able to donate vaccines to lower and middle-income countries or to re-direct it to other European countries.

"Today's step toward reaching an agreement with Valneva further complements the EU's vaccines portfolio and demonstrates the Commission's commitment to find a lasting solution to the pandemic," commented President of the European Commission, Ursula von der Leyen.

"With this eighth vaccine, we are adding to our already broad and diversified range of vaccines in our portfolio. By doing this, we can maximise our chances of making sure that all citizens can have access to safe and effective of vaccinations by the end of 2021. All Member States have now started their vaccination campaigns and will start receiving an increasing number of doses in order to cover all their needs during this year," said Stella Kyriakides, Commissioner for Health and Food Safety.

Valneva is a European biotechnology company developing an inactivated virus vaccine. This is a traditional vaccine technology, used for 60-70 years, with established methods and a high level of safety. Most of the influenza vaccines and many childhood vaccines use this technology. This is currently the only inactivated vaccine candidate in clinical trials against COVID-19 in Europe.

The Commission, with the support of EU Member States, has taken a decision to support this vaccine based on a sound scientific assessment, the technology used, the company's experience in vaccine development and its production capacity to supply all EU Member States.