“We all know that only a safe and effective vaccine will provide a lasting, sustainable solution to this pandemic,“ von der Leyen said in a video statement from Brussels to announce a deal had been finalized.

Moderna, the second group to announce positive results from a large scale clinical trial, after the joint Pfizer/BioNTech venture, reported early analysis suggesting its novel coronavirus vaccine is 94.5 percent effective.

Once the Moderna vaccine candidate is proven to be safe and effective, every member state will receive it at the same time according to their population size, von der Leyen said.

This is the sixth contract that the European Union’s executive body, which negotiates on behalf of the bloc’s 27 countries, has secured with vaccine producers.