Pharmaceutical companies have stated that it would take 12 to 18 months to develop an effective vaccine against the new coronavirus infection.
"We have no doubt that science can stop this disease", said David A. Ricks, the President of the International Federation of pharmaceutical manufacturers and associations (IFPMA).
In turn, Rajeev Venkayya, the President of Takeda's Global Vaccine Business Unit, noted that the time frames are "very aggressive, but we think it is quite possible. "In his opinion, in this race, "some will succeed and overcome the finish line".
A lot of bureaucratic procedures have been simplified to speed up the process of developing a COVID-19 vaccine. But industry leaders believe that the time it takes to assess the level of safety of such drugs should not be reduced.
It is promised that as soon as the new product is available on the market, it will be available to patients all over the world. "If you think about number of people who will want to get vaccinated – when we finally get the vaccine – it will be a question of billions, and this is a huge problem", warned Sanofi Pasteur, Executive Vice President.