Any nation that withholds COVID-19 vaccine will be 'judged terribly' by history: PM

Scott Morrison has said any nation who develops a vaccine for COVID-19 and withholds it or sells it for profit would be "judged terribly by history".

Speaking after a National Cabinet meeting, Australia's Prime Minister said the nation is currently jostling to "take a position" on promising early trials of a vaccine.

Part of this involves readying labs around the country to manufacture a vaccine if it is discovered.

READ MORE: COVID-19 antibody treatment trials underway in US

"Australia is positioning itself well to take advantage and be in a position to be able to manufacture and supply vaccines should they be developed," Mr Morrison said.

"There are many projects that are under way around the world and we have a process for identifying those that we can are believe we can take an early position on."

Acting Chief Health Officer Professor Paul Kelly said his team is optimistic a vaccine will be developed but it is currently too early to say when it will be ready.

READ MORE: COVID-19 vaccine 'will be widely available': Fauci

"Many companies, well over a hundred different types of vaccine that are in development, and many of those are already in clinical trials in what has been described by some as warp speed," Professor Kelly said.

"So these things normally take years. It's taking months, even weeks, to get here."

Professor Kelly alluded to Australia "advance purchasing" a vaccine or the materials to manufacture one based on clinical trials.

READ MORE: Scientists immunising hundreds with experimental COVID-19 vaccine

"We're looking very clearly and carefully about advance purchasing as well as local manufacturing options," Professor Kelly said.

"We're looking of course at the regulatory aspects to make sure that whatever does become available works as well as being of high quality and, of course, being safe.

"We can't promise that there will be a vaccine or when it may occur.

READ MORE: Russia set to approve world-first COVID-19 vaccine, despite safety fears

"We have never had a vaccine for a coronavirus in the world before, but the very best minds in the world are concentrating on this."

Mr Morrison said said only time will tell if a coronavirus vaccine will be discovered.

"So, we look forward to that. But you can't count on that. That's why the economic plan that we're putting in place and have been now for many months is so important," he said.

"You have to address the health issues and perhaps it will be a treatment first as opposed to a vaccine that will mitigate the impact and enable broader restrictions to be eased."

You can get up-to-date information from the Federal Government's Coronavirus Australia app, available on the App Store, Google Play and the Government's WhatsApp channel.

Beyond Blue's Coronavirus Mental Wellbeing Support Service is a 24/7 service free of charge to all Australians. Visit the site here or call 1800512348

For coronavirus breaking news alerts and livestreams straight to your smartphone sign up to the 9News app and set notifications to on at the App Store or Google Play.