Britain is in talks with pharmaceutical companies GlaxoSmithKline (GSK) and Sanofi to supply 60 million doses of coronavirus vaccine, The Economic Times reported.
The deal is valued around 500 million pounds or $624 million.
According to the daily, Britain is considering an option to buy the vaccine if human trials, which are due to begin in September, are successful.
The money would be paid in tranches as the development of the vaccine progresses with the final payment to be made on delivery.
The deal is expected to be announced in the coming days, the report added.
Moneycontrol could not independently verify the report.
Also Read: COVID-19 vaccine: ICMR confirms Covaxin launch likely by August 15, clinical trials fast-tracked
GSK and Sanofi are among more than 100 global players working on vaccines against COVID-19, which has killed more than half a million people worldwide.
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