US Government Secures 300 Million AstraZeneca COVID-19 Vaccines with $1.2 Billion Investment

[Image source=Reuters Yonhap News]

[Asia Economy Reporter Hyunwoo Lee] The U.S. government has secured an initial supply of 300 million doses of the novel coronavirus (COVID-19) vaccine developed by the multinational pharmaceutical company AstraZeneca, and reportedly invested approximately $1.2 billion (about 1.4796 trillion KRW) in the company for this purpose. Although the vaccine’s efficacy remains unclear as clinical results have not yet been released, countries are competitively rushing to secure supplies of the vaccine scheduled for release in September this year.

According to foreign media such as CNBC, the Biomedical Advanced Research and Development Authority (BARDA) under the U.S. Department of Health and Human Services has signed a contract to invest about $1.2 billion in AstraZeneca to secure an initial supply of 300 million doses of the COVID-19 vaccine 'AZD1222,' which is being developed in collaboration with the University of Oxford in the UK. This vaccine is currently undergoing Phase 1 and 2 clinical trials in the UK with approximately 1,000 volunteers, aiming for release in September this year. Clinical trial results are expected to be announced soon.

Despite the absence of clinical results, the vaccine is anticipated to be the fastest to market worldwide, prompting not only the U.S. but also the UK government to actively secure supplies. The UK government has entered licensing negotiations with AstraZeneca and agreed to receive a total of 100 million doses, including 30 million initial doses in September, upon successful vaccine development. If Phase 1 and 2 trial results are positive, Phase 3 trials are expected to commence in multiple countries. In the U.S., preparations are underway for Phase 3 trials involving 30,000 participants.

This vaccine is being jointly developed by researchers at the University of Oxford and AstraZeneca and was previously known as 'ChAdOx1 nCoV-19.' Clinical trials are ongoing with the goal of releasing 400 million doses after September. Currently, about 100 vaccine development programs are underway worldwide, and the U.S. government has signed contracts to support vaccine development with global pharmaceutical companies such as Johnson & Johnson, Moderna, and Sanofi.