Brussels, January 29: The European Union on Friday approved AstraZeneca's COVID-19 vaccine for people over 18 years of age. A conditional marketing authorisation has been granted to the British-Swedish pharmaceutical company's vaccine against coronavirus by the European Medicines Agency (EMA). The EU's medicine regulator also released a statement in this regard. The vaccine has been developed by AstraZeneca in partnership with Oxford University. COVID-19 Vaccine Update: Germany Challenges Efficacy Report of AstraZeneca's Coronavirus Vaccine.

"EMA has recommended granting a conditional marketing authorisation for Covid-19 Vaccine AstraZeneca to prevent coronavirus disease 2019 in people from 18 years of age," reported global news agency AFP quoting an excerpt from EMA's statement. The EMS also considered it to be safe for using the vaccine on older adults, over 55. However, the watchdog said that it did not have enough results in older participant, but the immune response was found in them, which is based on experience with other vaccines.

The EU and the British Swedish pharmaceutical firm agreed Friday to make public a heavily redacted version of their coronavirus vaccine agreement. The contract, agreed to last year by the European Commission and the drugmaker, allows the EU's member countries to buy 300 million doses of the AstraZeneca vaccine, with an option for a further 100 million doses.

As part of the "advanced purchase agreement" with vaccine companies, the EU has invested 336 million euros ($408 million) to finance the production of AstraZeneca vaccines at four factories. Earlier this week, the EU had lashed out at AstraZeneca after the British-Swedish drugmaker had said that it would not be able to deliver the 80 million doses that it hoped to provide initially and could only supply 31 million.

(The above story first appeared on LatestLY on Jan 29, 2021 09:52 PM IST. For more news and updates on politics, world, sports, entertainment and lifestyle, log on to our website