The upbeat assessment came as the World Health Organization warned that the variant first spotted in India could fuel a new wave of cases in Europe.
The European Medicines Agency said the 'historic' step paved the way for vaccinations to finally start within days across the 27-nation EU where cases of the disease are surging.
The EMA had originally been due to decide on US-based Moderna's vaccine on 12 January, but said the company had submitted extra data on Thursday 'ahead of schedule'.
The European Medicines Agency is looking at 115 different therapeutics, or treatments, for the coronavirus, which has killed nearly 300,000 deaths globally, according to World Health Organization data.
The decision, announced by the European Medicines Agency (EMA) on its website, is the latest blow for India's drug-testing industry.
