Thomas Triomphe, executive vice president and global head of Sanofi Pasteur, said: "Today's announcement helps to ensure that millions of Europeans will have access to a potential vaccine protecting against COVID-19, once proven safe and effective.
“It has been our steadfast commitment to provide a vaccine that is affordable and accessible to everyone, and we are grateful to the European Commission for their ongoing engagement and shared support of this effort.”
Roger Connor, president of GSK Vaccines, added: “Both companies have significant R&D and manufacturing capability in Europe and are already working hard to scale up production across our networks.”
Glaxo shares, which began the year at 1777p, rose 12p to 1541p today.