Japan to pool $20bn with Europe, Canada for vaccine-buying fund

Smaller nations join forces to match US-China purchasing power

As pharmaceutical companies rush to develop vaccines against the coronavirus, clinical trials have started in various parts of the world. © Reuters

TAKUYA MIZOROGI, Nikkei staff writer

July 8, 2020 02:00 JST

TOKYO -- Japan is in talks with the U.K., France and other potential partners to set up a $20 billion fund to jointly buy coronavirus vaccine, Nikkei has learned.

The nations aim to establish the purchasing program as soon as this summer, with Japan expected to contribute as much as $800 million or so, according to people familiar with the matter.