Source: Council on Foreign Relations
The Market Online - At The Bell

Join our daily newsletter At The Bell to receive exclusive market insights

  • Britain will be the first country in the world to release a COVID-19 vaccine, starting treatment next week
  • 800,000 doses will be used for high-risk citizens — including healthcare staff, the clinically vulnerable, and elderly
  • The vaccine is produced by Pfizer and BioNTech
  • So far, the U.K. has suffered 60,000 COVID related deaths
  • Reportedly, the United States is awaiting approval to use the vaccine by its Food and Drug Administration
  • Health Minister, Greg Hunt, says Australia is on track for approval of the vaccine in January next year — with delivery to follow in March

Britain will be the first country in the world to release a COVID-19 vaccine, starting treatment next week.

The vaccine has been produced by American pharmaceutical company, Pfizer, and German biotechnology company, BioNTech.

High-risk groups are confirmed to be priority users for the rollout of the vaccine. As of now, 800,000 doses are ready.

So far, the UK has suffered roughly 60,000 COVID related deaths.

A Department of Health and Social Care spokesperson issued a statement on Wednesday, representing the U.K. Government.

“The Government has today accepted the recommendation from the Independent Medicines and Healthcare products Regulatory Agency to approve Pfizer-BioNTech’s COVID-19 vaccine for use,” they said.

“The Joint Committee on Vaccinations and Immunisations will shortly publish its final advice for the priority groups to receive the vaccine, including care home residents, health and care staff, the elderly and the clinically extremely vulnerable,” they continued.

Supplies on top of the original run of 800,000 doses will not become available to the U.K. until early 2021.

“Further details will be set out shortly,” the spokesperson added.

The Pfizer-BioNTech vaccine is also currently being considered by the European Union and the United States.

U.K. Health Secretary, Matt Hancock, said the vaccine represented a positive horizon.

“I’m confident now with the news today that from spring […] things are going to be better and we’re going to have a summer next year that everybody can enjoy,” he said.

Pfizer has already begun the process of shipping the vaccine supplies to the U.K. Reportedly, the United States is expecting approval from its Food and Drug Administration — with Pfizer awaiting the OK signal.

As for Australia, Health Minister Greg Hunt estimates an approval of the Pfizer vaccine by the end of January next year. If successful, a delivery would follow in March.

More From The Market Online

Australia and New Zealand seen as top places for business

Australia has moved up the ranks in terms of its 'reputation' and ease of doing business,…