The European Commission announced that it had struck a deal with the French pharmaceutical Sanofi for 300 million doses of the future Covid-19 vaccine.
Ursula von der Leyen, the President of the European Council said that they still not sure which vaccine would work but Europe is investing in a diversified portfolio of promising vaccines which is based on various technologies. On the same day, the US Government said it would provide up to $2.1 billion to Sanofi and GSK for the development of the vaccine. The EU said that it would allow 27 member countries to purchase the vaccine if it is proved to be safe for use.
In the second quarter of 2020, due to the lockdown, it has caused a 12% contraction in the EU. In the next year around June, Sanofi hopes to get marketing authorization from the European Medicines Agency for the vaccine. Europe has 3.2 million cases with the death toll at nearly 2,10,000. There is a fear of a second wave of the pandemic