As efforts to find an effective medication against the novel coronavirus accelerates, one that holds enormous potential -- Oxford's experimental drug -- began its trials in Brazil, one of the hardest-hit places in the ongoing global health crisis.

A recent report by Reuters has confirmed that the country is now on course for the production of the vaccine. On Saturday, Brazil announced it had signed a $127 million deal to begin producing an experimental vaccine developed by AstraZeneca that has been shown to be very effective in combating COVID-19.

The AstraZeneca drug candidate is considered as the leading vaccine in the world, and most advanced in terms of development to obtain license and be used as an official medication against the virus, the World Health Organization said. The British biotech group is already conducting massive, mid-stage human tests of the drug, which was developed by scientists at Oxford University.

Brazilian health officials said during a media briefing that the government will pay $127 million to make 30 million doses in two batches in December and January, which would let the pharmaceutical firm to start an inoculation process if the drug is certified to be effective and safe.

Health authorities disclosed that the agreement is for 100 million vaccines for a nation of around 210 million people. The vaccine will be produced by local drug company Fiocruz, the country's premier public health organization.

British envoy Vijay Rangarajan, on Twitter said that the 30 million doses will be available in the country and Fiocruz will prepare for local production,without making any reference to the additional 70 million doses.

Cases of coronavirus surpassed 10 million on Sunday globally, a Reuters tally showed, marking a major milestone in the spread of the dreaded diseases that have already claimed the lives of nearly half a million people in seven months.

The number is approximately twice that of severe influenza cases recorded each year, the World Health Organization said. According to the WHO, scientists are optimistic that the nations may produce a COVID-19 vaccine within one year or even a few months earlier.

Brazil has reported over 1.2 million confirmed cases as of Friday, with more than 55,000 fatalities, making the country the second most affected nation in the current crisis, next to the United States.

AstraZeneca has also teamed up with the Serum Institute of India, to make the doses of the potential drug. The country recently proceeded beyond the 5 lakh level in terms of the total reported cases of COVID-19.