Vaccines normally take years to test and mass produce; the European Union, like the U.S., is trying to shrink that timeframe to 12 to 18 months. In addition to providing financial help to companies who are ramping up production before they even know if a vaccine candidate will work, European authorities pledged to reduce regulatory barriers along the way.
Payments from the emergency fund to drugmakers would be considered a down payment on purchases made later by member states, the commission said.
