March 11, 2021

Europe wants a mutant COVID clause built into its vaccine supply contracts

[] Europe wants a mutant COVID clause built into its vaccine supply contracts | Fortune© 2020 Fortune Media IP Limited. All Rights Reserved. Use of this site constitutes acceptance of our u003ca href="https://fortune.com/terms-of-use/">Terms of Useu003c/a> and u003ca href="https://fortune.com/privacy-policy/">Privacy Policyu003c/a> | u003ca href="/california-privacy-policy/#notice">CA Notice at Collection and Privacy Noticeu003c/a> | u003ca href="https://fortune.com/right-to-opt-out/">Do Not Sell My Personal Informationu003c/a> | u003ca href="http://preferences-mgr.trustarc.com/?pid=fortunemedia01&aid=fortunemedia01_pub&type=fortunemedia">Ad Choices u003c/a>u003cbr />nFORTUNE is a trademark of Fortune Media IP Limited, registered in the U.S. and other countries. FORTUNE may receive compensation for some links to products and services on this website. Offers may be subject to change without notice.u003cbr />nQuotes delayed at least 15 minutes. 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","type":"post"},"children":[{"name":"byline","config":{"link":"https://fortune.com/author/shawn-tully/","name":"Shawn Tully"},"children":[]},{"name":"image","config":{"aspectRatio":0.6666666666666666,"attachmentId":2958290,"alt":"Rising Interest Rates-Graph Concept","caption":"Rising interest rates could be a killer for stocks.","crops":[],"height":1920,"imageSize":"article-sidebar","lazyload":true,"lqipSrc":"https://content.fortune.com/wp-content/uploads/2021/02/Rising-Interest-Rates-Graph-Concept-GettyImages-1303546981.jpg?quality=60&resize=60,40","postId":2958044,"retina":true,"showCaption":false,"sources":[{"default":true,"transforms":{"resize":[130,86]},"descriptor":100}],"sourceTags":[],"src":"https://content.fortune.com/wp-content/uploads/2021/02/Rising-Interest-Rates-Graph-Concept-GettyImages-1303546981.jpg","srcset":"https://content.fortune.com/wp-content/uploads/2021/02/Rising-Interest-Rates-Graph-Concept-GettyImages-1303546981.jpg?resize=260,172 200w,https://content.fortune.com/wp-content/uploads/2021/02/Rising-Interest-Rates-Graph-Concept-GettyImages-1303546981.jpg?resize=130,86 100w","url":"https://content.fortune.com/wp-content/uploads/2021/02/Rising-Interest-Rates-Graph-Concept-GettyImages-1303546981.jpg","useBasicImg":false,"usingDataFallback":false,"width":2880,"fallbackImageUrl":"data:image/gif;base64,R0lGODlhAQABAIAAAAAAAP///yH5BAEAAAAALAAAAAABAAEAAAIBRAA7","picture":false,"sizes":"100px"},"children":[]},{"name":"byline","config":{"link":"https://fortune.com/author/shawn-tully/","name":"Shawn Tully"},"children":[]}]}]},{"name":"advertising-slot","config":{"align":"center","lazyload":true,"useDynamicChannel":false,"placementName":"RightRailFlex_Articles","slotId":"RightRailFlex_Articles1","themeName":"article","targeting":{"placement_name":"RightRailFlex_Articles","index":2}},"children":[]},{"name":"dianomi","config":{"type":"sidebar"},"children":[]},{"name":"advertising-slot","config":{"align":"center","lazyload":true,"useDynamicChannel":false,"placementName":"RightRailFlex_Articles","slotId":"RightRailFlex_Articles2","themeName":"article","targeting":{"placement_name":"RightRailFlex_Articles","index":3}},"children":[]}]},{"name":"article-media","config":{"publishDate":"","type":"video","section":"International"},"children":[{"name":"brightcove-video","config":{"accountId":"2111767321001","disableAds":false,"disableAutoplay":false,"disableContinuousPlay":false,"disableViewplay":false,"isLeadVideo":false,"loop":false,"playerId":"HDNR3TkSj","stickyPlayerOff":false,"silentlyAutoplay":true,"videoId":"6220109274001","section":"International"},"children":[]}]},{"name":"article-body","config":{"mediaType":"video","premiumCategory":"F-Wire"},"children":[{"name":"gutenberg-content","config":{},"children":[{"name":"html","config":{"content":" u003cp>In an effort to get its inoculation drive on track, the European Union’s executive arm will vow to accelerate research, authorization, procurement and distribution for vaccines that fight variants of the coronavirus, while also asking member states for more money to back the drive.u003c/p> u003cp>The European Commission wants to adapt existing contracts and strike new purchase agreements with pharmaceutical companies to secure shots that protect against Covid-19 mutations, according to a draft proposal of the strategy seen by Bloomberg. The contracts will include safeguards to avoid earlier u003ca rel="noreferrer noopener" href="https://www.bloomberg.com/news/articles/2021-01-30/faced-with-a-vaccine-emergency-the-eu-made-an-enemy-of-everyone" target="_blank">misstepsu003c/a> that tarnished the current vaccine rollout.u003c/p> u003cp>“Existing agreements may have to be updated to cover protection against variants,” according to the plan, which will be published on Wednesday and could still be changed. “Based on the lessons learned, a detailed and credible plan showing capability to produce vaccines in the EU on a reliable timescale will be a prerequisite. This should not prevent the EU from considering sources from outside the EU if needed.”u003c/p> u003cp>Brussels has come under criticism for the sluggish pace of inoculations across the bloc compared to the U.S. and the U.K. The Commission also engaged in a u003ca href="https://fortune.com/2021/01/25/astrazeneca-covid-vaccines-europe-deliveries-south-africa-price/">very public disputeu003c/a> with AstraZeneca Plc over expected supplies and amid calls in recent days by several member states to get ahead of a possible need for booster shots to tackle new Covid mutations.u003c/p> u003cp>A Commission spokeswoman declined to comment on the draft proposal.u003c/p> u003ch2>Travel Restrictionsu003c/h2> u003cp>The spread of variants which are more transmissible and potentially less sensitive to existing vaccines has spooked EU governments, which next week will vow to “uphold tight restrictions,” according to a draft communique seen by Bloomberg. Over a video summit on Feb. 25-26, the bloc’s leaders will declare that non-essential travel must remain restricted, adding that “variants pose additional challenges.”u003c/p> u003cp>“We need to accelerate the authorization, production and distribution of vaccines, as well as vaccination, in the weeks and months to come,” leaders will say next week, in a wording that could signal the governments’ discontent with how the bloc’s executive arm handled purchase agreements of the life-saving shots.u003c/p> u003cp>At the summit, the Commission will invite the 27 leaders to endorse and mandate its proposals. “Given the race against time, sufficient funding will need to be made quickly available,” the draft states.u003c/p> u003cp>As part of the proposals, the Commission will create and manage a new bio-defense preparedness program that will cover five different fronts:u003c/p> u003cul>u003cli>Rapid detection of variantsu003c/li>u003cli>Swift adaptation of vaccinesu003c/li>u003cli>Setting up a European Clinical Trials Networku003c/li>u003cli>Fast-tracking regulatory approval of updated vaccines and new or repurposed manufacturing infrastructuresu003c/li>u003cli>Enable upscaling of production of existing, adapted or novel Covid-19 vaccines.u003c/li>u003c/ul> u003ch3>Mass Testingu003c/h3> u003cp>The EU’s health commissioner, Stella Kyriakides, anticipated aspects of the decision to fast-track the approval of vaccines updated to target mutations of the coronavirus in u003ca href="https://www.augsburger-allgemeine.de/politik/Stella-Kyriakides-kuendigt-Schnellverfahren-fuer-Mutations-Impfstoff-an-id59116781.html" target="_blank" rel="noreferrer noopener">an interviewu003c/a> with a German newspaper over the weekend.u003c/p> u003cp>Additionally, the Commission is set to announce that it will create and fund a new trial network called “Vaccelerate” to ensure that vaccine trial sites are available across Europe. The bloc’s executive arm will also support research and rapid mass testing to detect new variants and will again urge that member states mobilize resources to ensure a genome sequencing capacity of at least 5% of positive test results can be reached. It will make available 30 million euros ($36.5 million) of funds to boost existing research projects around variants.u003c/p> u003cp>The U.K. medicines regulator also said Tuesday it was looking at a rapid review of any new vaccines targeting variants, confirming that drugmakers will not have to go through the same extensive approval process as the first-generation shots and comparing the likely process to the annual flu vaccine updates.u003c/p> u003cp>“It won’t be a full re-run of the first vaccine approvals, it will be very modified, and very focused, and very much quicker,” June Raine, chief executive officer of the Medicines & Healthcare Products Regulatory Agency, said at a public board meeting. “We’re well aware that with the threat posed by particularly a pathogenic or a seriously harmful variant we need to act fast.”u003c/p> u003cp>The EU will also pledge to scale up industrial capacity across the bloc by working closely with manufacturers to monitor supply chains, tackle bottlenecks and support manufacturing of additional vaccines as part of an “EU Fab” project.u003c/p> u003cp>Brussels will also foster “the creation of a collaborative licensing tool, which would allow technology owners to retain a continued control over their rights while guaranteeing that technology, know-how and data are effectively shared with a wider group of manufacturers,” the draft proposals say.u003c/p> "},"children":[]},{"name":"html","config":{"content":"u003ch3>u003cspan style="font-weight: 400;">More u003c/span>u003ca href="https://fortune.com/">u003cspan style="font-weight: 400;">must-read storiesu003c/span>u003c/a>u003cspan style="font-weight: 400;"> from u003c/span>u003ci>u003cspan style="font-weight: 400;">Fortuneu003c/span>u003c/i>u003cspan style="font-weight: 400;">:u003c/span>u003c/h3>nu003cul>nu003cli>One year later: u003ca href="https://fortune.com/2021/03/09/covid-pandemic-how-life-has-changed-coronavirus-one-year-later-march-2020/">15 ways life has changedu003c/a> since the onset of the COVID pandemicu003c/li>nu003cli>“They’re laying a trap”: Everything to know about u003ca href="https://fortune.com/2021/03/07/theyre-laying-a-trap-everything-to-know-about-the-new-bitcoin-tax-rules/">the new Bitcoin tax rulesu003c/a>u003c/li>nu003cli>$300 unemployment benefits and UI tax forgiveness: u003ca href="https://fortune.com/2021/03/08/covid-stimulus-300-extra-unemployment-benefits-ui-tax-forgiveness-unemployed-jobless-taxes-pandemic/">Everything the new stimulus package includes for jobless Americansu003c/a>u003c/li>nu003cli>u003ca href="https://fortune.com/2021/03/09/us-companies-in-china-outlook-us-china-relations-trade-war-biden-election/">The outlook of U.S. firms in Chinau003c/a> changed dramatically after Biden’s electionu003c/li>nu003cli>u003ca href="https://fortune.com/2021/03/08/covid-colleges-universities-higher-education-reckoning-us/">“25% of colleges could go out of business”u003c/a>: Chegg CEO says the pandemic is speeding up higher education’s reckoningu003c/li>nu003c/ul>n"},"children":[]}]}]},{"name":"dianomi","config":{"type":"footer"},"children":[]}]}]}]}},"componentData":{},"error":null,"loading":false,"player":{"currentTime":0,"duration":0,"loading":false,"playing":false,"seek":0,"src":"","visible":false,"volume":0.5},"route":{"status":200,"redirectTo":"","redirectStatus":0,"action":"PUSH","pathname":"/2021/02/16/europe-mutant-covid-clause-vaccine-contracts/","search":"?","hash":""},"visible":{"search":false,"primaryNav":false,"freestar":false,"adminBar":false},"contactForm":{"submitting":false,"submitted":false,"failed":false,"validation":{},"redirect":""},"user":{"isLoggedIn":false,"accessLevel":null}}; ]]> response.json()) .then(function (data) { signPackage = data; wx.config(data); wx.ready(function () { wx.updateTimelineShareData({ title: title, link: url, imgUrl: img, success: function () {}, cancel: function () {} }); wx.updateAppMessageShareData({ title: title, desc: desc, link: url, imgUrl: img, success: function () {}, cancel: function () {} }); wx.error(function (res) { //location.href = g_url; }); }); }) } }; script.src = "https://res.wx.qq.com/open/js/jweixin-1.6.0.js"; document.head.appendChild(script); } ]]> You need to enable JavaScript to view this site.
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