The administration is reviewing the potential vaccine under development by the University of Oxford and AstraZeneca, the Financial Times reports.
One option could involve the U.S. Food and Drug Administration (FDA) clearing it for emergency use in October, a month before Mr. Trump hopes to beat Democratic rival Joe Biden for the presidency, the newspaper reports.
Mr. Trump is behind Mr. Biden in most presidential polls, and ahead of this week’s Republican National Convention, progress with a vaccine would increase his chances.
The United States has the highest rate of infections and deaths from COVID-19, the disease caused by the coronavirus: nearly six million infections have been recorded and deaths are heading to 177,000, according to figures from Johns Hopkins University.
The White House declined to comment on the story, which cited people with knowledge of the plan.
AstraZeneca has denied having discussed authorization for emergency use of the potential vaccine with the US government, adding: “It would be premature to speculate on this possibility. ”
Phase 2 and 3 trials of the potential vaccine are continuing in the UK and other countries with results expected later this year.
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The project is considered a leading candidate among more than 100 others currently in the testing process.
Meanwhile, Mr. Trump announced the emergency authorization of convalescent plasma as a treatment for COVID-19.
It is believed that the blood plasma of COVID-19 survivors could help those fighting the disease because it contains antibodies.
But the evidence is inconclusive as to whether it works, when it’s needed, or how much it’s needed.
More than 70,000 patients in the United States have received the plasma, which uses a technique previously used to fight diseases like measles before a vaccine was developed.
FDA chief scientist Denise Hinton said it shouldn’t be seen as a new standard of care for treating patients with COVID-19 and more data is expected to come from trials within months to come up.
Mr Trump said: “This is what I have been trying to do for a long time.
“Today, I am happy to make a truly historic announcement in our battle against the Chinese virus that will save countless lives. “