Australians will be among the first in the world to get the coronavirus vaccine under a $1.7 billion agreement between the Australian Government and pharmaceutical companies.

Prime Minister Scott Morrison today announced vaccines would be made available throughout next year if trials are successful.

Australia needs some hope today,” Mr Morrison said.

Scott Morrison touring the Astra Zeneca facility in NSW where a vaccine for COVID-19 is being produced. (9News)

“Particularly in Victoria, they need some hope today. And so that is what we’re here to deliver today.

“Today, we take another significant step to protect the health of Australians against the coronavirus pandemic.”

Mr Morrison said the vaccines would first need to be proven safe and effective, and meet all necessary regulatory requirements.

One of the deals is with the University of Oxford and AstraZeneca; the second with University of Queensland and CSL.

Nearly 85 million doses would be manufactured in Melbourne.

Mr Morrison called it “a sovereign vaccine plan”.

The plan puts Australia among the first in the world to get a vaccine, if one is discovered, Mr Morrison said.

The very best case scenario would see 3.8 million doses of the University of Oxford vaccine be available in January and February next year.

Scott Morrison touring the Astra Zeneca facility in NSW where a vaccine for COVID-19 is being produced. (9News)

Mr Morrison said the two vaccine deals struck by his government are “the two best prospects” on the table.

But he has urged caution over the delivery of a potential vaccine.

“Lockdowns and borders are not signs of success in dealing with COVID-19,” he said, underlining the critical importance of a vaccine program.

The  hinted at building “an integrated tracing capability” right across the country, to counter outbreaks.

Mr Morrison said New South Wales was “the gold standard” other states and territories had to follow and live up to.

At the time, Mr Morrison said at the time it was “one of the most promising and most advanced vaccine developments anywhere in the world”.

Known as the Oxford Vaccine, because it has been developed by the Oxford University, the shot is actually called AZD1222. It is adapted from a common cold virus found in chimpanzees.

Up to 25 million batches of the vaccine will be made available for free.

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