According to the agreement, EU states will be allowed to purchase 200 million doses of the potential vaccine once it's proven to be safe and effective. EU states will also have the option to secure an additional 200 million doses. The potential vaccine is being developed by Janssen, a subsidiary of J&J.
J&J is currently developing and testing Janssen’s experimental COVID-19 vaccine candidate, which is in Phase 3 of its clinical trials.
The company surpassed the milestone last month, making it the fourth company to enter the final stage of testing its coronavirus candidate in the United States after Moderna, Pfizer and AstraZeneca.
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Since the onset of COVID-19, J&J has publicly committed to ensuring global access to its vaccine.
While the company races to develop a safe and effective treatment, it has been "simultaneously working with partners around the world" to help reach that goal, Dr. Paul Stoffels, vice chairman of J&J's executive committee and chief scientific officer, said in a statement.
At the same time, J&J is holding discussions with other stakeholders, including national governments and global organizations, in an effort to meet its commitment, the company said.
Aside from its agreement with the EU, the company will also allocate up to 500 million vaccine doses to "ensure access for lower-income countries."
The company projects that delivery for those doses will begin in mid-2021, following approval or authorization from regulators.
"Recognizing the unique global demand for COVID-19 vaccines, we are working tirelessly to further expand the number of available doses," J&J said.