AstraZeneca plc (NYSE:AZN) has reportedly agreed to supply a coronavirus vaccine to European countries following a deal struck on Saturday with the European Union’s Inclusive Vaccines Alliance (IVA).

Researchers at Oxford University created the COVID-19 vaccine that AstraZeneca will supply as part of the new deal. AstraZeneca is actively involved in the pursuit of a viable vaccine or cure for the coronavirus, which has become a global pandemic. The deal will facilitate the delivery of roughly 400 COVID-19 doses, and the company will start supplying them towards the end of 2020.

The IVA is a new body formed in June 2020 in line with the realization that there is a need for such a body to oversee vaccine matters to combat pandemics and outbreaks. The alliance was formed by Italy, Germany, the Netherlands, and France, although it will include other countries that are part of the European Union. The governments of those countries will foot the bill for the vaccines, which will then be provided to the people.

“This agreement will ensure that hundreds of millions of Europeans have access to Oxford University’s vaccine following approval,” stated Pascal Soriot, the CEO of AstraZeneca.

Is it a viable vaccine against the coronavirus?

The CEO also revealed that AstraZeneca plans to commence the vaccine production soon and that they hope to make it available as quickly as possible. However, the main question is whether the vaccine in question will allow effective relief against the coronavirus. The vaccine has so far demonstrated significant results in clinical trials and is currently one of the few vaccines that have demonstrated positive results.

Despite the research findings, there is still a lot of uncertainty regarding the effectiveness of the vaccine. However, the number of people that have been dying due to COVID-19 has become increasingly alarming. Governments believe that it is currently the best bet, and it should help curb the viral spread even though there are some uncertainties about the vaccine being distributed by AstraZeneca. Authorities believe that the vaccine rollout will save millions of people.