The European Union (EU) has so far raised more than $10 billion in global efforts to develop vaccines and drugs to prevent Covid-19.
Experts believe the fund was raised as part of the ongoing efforts of various pharmaceutical companies to stay ahead of the competition for the development of antiviral drugs.
European Commission President Ursula von der Leyen said on Twitter on Tuesday that the global initiative was a pledge to pave the way for the EU-led marathon to develop the fight against the virus.
Earlier, the United States initially avoided the European Union’s move, but by May 4, the amount of funds raised from world leaders and other institutions stood at $8 billion.
About 100 vaccines are being tested around the world at various stages, and experts believe that one or more of these efforts could be successful in the ongoing efforts of drug manufacturers or research institutes. In this context, the EU informed them of this initiative.
