Join our daily newsletter At The Bell to receive exclusive market insights
- The Australian Government has signed a second COVID-19 vaccine deal to shore up the country’s chances of receiving the much-needed immunisations
- The government has signed a deal with COVAX, an international distribution alliance set up by the World Health Organisation
- Signing on with COVAX is expected to cost $123 million, with the deal to act as “insurance” should the Oxford vaccine fall through
- Australia has agreed to buy over 25 million doses of the Oxford vaccine once it becomes available, but the trial recently hit a setback
- Phase three human trials had to be paused after a patient became ill with unexplained neurological symptoms
- In the meantime, news of the vaccine deal comes as a number of states elected to remove coronavirus-related border restrictions
The Federal Government has signed on to another COVID-19 vaccine deal in a bid to shore up Australia’s chances of securing the much-needed immunisation.
The Government has announced it has officially paid $123 million to join a global distribution alliance, known as COVAX.
COVAX is run by the World Health Organisation, the Gavi vaccine alliance and the Coalition for Epidemic Preparedness Innovations.
Over 155 countries have signed on to COVAX, and the alliance’s aim is to distribute safe, effective vaccines once they become available. The organisation hopes to eradicate COVID-19 by the end of 2021.
Health Minister Greg Hunt said this latest government investment will act as “insurance” should the Oxford vaccine fall through.
“This provides us access to any of potentially dozens of other vaccines that may be successful,” he said in an interview with Nine this morning.
The decision by the government to sign on to a second vaccine deal comes as the Oxford vaccine, which Australia bought over 25 million future immunisations from, recently hit a setback.
Producer AstraZeneca had to hit pause on phase three human trials as one of the patients became ill with unexplained neurological symptoms.
Minister Hunt said the setback showed how important it was to have multiple plans in place to deal with COVID-19. He also believes the new COVAX deal will help other nations besides Australia.
“[A vaccine] is good for Australia but it also means that people in developing nations will have access as well, and that helps protect the world,” he said.
The news of the vaccine deal comes as several states across Australia elect to reopen their borders as coronavirus cases subside.
Queensland has extended its border bubble with northern NSW and has flagged easing restrictions further if COVID-19 case numbers remain low.
Meanwhile, South Australia has opened its borders to NSW from today, with flights between Adelaide and Sydney to begin operating again.
International borders remain closed for all Australians, but the Federal Government has previously flagged reopening the border once a vaccine is administered globally.
