The Pak Banker

EU in advanced talks with J&J on COVID vaccine deal

- BRUSSELS

The European Commission is in advanced talks with pharmaceut­ical giant Johnson & Johnson to reserve or buy up-front doses of its COVID-19 vaccine under developmen­t, two officials familiar with the talks told Reuters.

The move would be the first arranged by the European Union executive since it was mandated by the 27 EU national government­s to use an emergency fund of more than 2 billion euros ($2.3 billion) to strike deals with up to six vaccine makers. The Commission's deal with the U.S. firm Johnson & Johnson is "in the pipeline", a top health official from an EU member state said, asking to remain anonymous as these were confidenti­al discussion­s about vaccines between the EU executive and EU government­s.

A second EU source said the Commission had a call with Johnson & Johnson on Tuesday about the possible agreement. A Commission spokesman had no comment. Johnson & Johnson was not immediatel­y available for comment outside U.S. business hours.

It was unclear whether any deal would involve an advance purchase of the vaccine in testing, or an option to buy it.

Johnson & Johnson plans next month to start human clinical trials for its experiment­al vaccine against the highly contagious coronaviru­s, which has infected more than 8.36 million people worldwide, with 447,985 deaths.

Germany, France, Italy and the Netherland­s said last week they had acquired 400 million potential vaccine doses, in principle available to all member states, from British drugmaker AstraZenec­a, which is developing a COVID-19 shot in conjunctio­n with Oxford University.

AstraZenec­a signed a similar deal in May with the United States. The health official source said the EU deal with Johnson & Johnson could be announced as early as next week, but cautioned it might take a little longer to finalise, and there was a chance it might not be struck at all. He said the EU was also seeking a deal with French vaccinemak­er Sanofi. A spokesman for Sanofi had no immediate comment.

EU decision-making procedures pose a potential sticking point, with member states still in talks over the establishm­ent of a steering board for vaccine negotiatio­ns with drugmakers, officials told Reuters.

They said that under a draft plan devised by the EU Commission, which is still to be approved by EU government­s, a green light from just four member states would be enough to start formal EU talks with a drugmaker.

But, underlinin­g the urgency of securing a vaccine for the EU's 450 million population, the Commission had already begun talks with Johnson & Johnson even before the steering board has been agreed. The Netherland­s has also been involved in these initial talks with Johnson & Johnson, as a representa­tive of the alliance of the four EU countries that struck the AstraZenec­a deal, officials told Reuters.

This alliance is expected to halt negotiatio­ns with drugmakers once the EU has appointed its negotiatio­n team, to avoid competitio­n among EU states, officials said.

"Johnson and Johnson's vaccine is one of the promising initiative­s," a spokesman for the Dutch health ministry said, declining to comment on the talks underway. By

 ?? NEW YORK
-AP ?? Traders exit the 11 Wall St. door of the New York Stock Exchange in New York City, U.S.
NEW YORK -AP Traders exit the 11 Wall St. door of the New York Stock Exchange in New York City, U.S.

Newspapers in English

Newspapers from Pakistan