Moderna, Inc. (NASDAQ: MRNA) has secured a supply contract for up to 160 million doses of COVID-19 vaccine candidates from the European Union. Moderna Inc. has earlier disclosed that its experimental COVID-19 vaccine has shown 94.5% effectiveness in limiting this novel disease. EU government is preparing to acquire the vaccine shots once the drug regulative authorities approved the vaccine.

It has not been revealed yet when the vaccine will be delivered. The doses of vaccine would be more than enough to treat 80 million people. EU is anticipating to secure the doses at $25 per dose. But the firm declared that it would charge between $25 and $37 per dose to EU. EU has earlier struck many deals with vaccine producers and it is the sixth vaccine agreement of the EU.