Novavax will provide 40 million of the doses, while Pfizer and Biotech will provide 10 million.

Thursday's agreements followed deals in September with AstraZeneca and CSL, where for $1.2 billion.

All four vaccines are leading candidates in the race to get regulatory approval in the United States and Europe.

Announcing the investment, Prime Minister Scott Morrison said Australia would be ahead of the game now.

Today we're announcing an extra $1.5 billion investment in the Novavax in the fires of vaccines.

This adds to our overall program off over $3.5 billion that we're investing to ensure that Australians will be in the leading pack of the world as we move into the next phase off dealing with Coburn 19, which is the vaccine phase.

Federal Health Minister Greg Hunt added that the government was on track to roll out the vaccines from March next year.

We have diversified our strategy and we have the capacity now to start vaccinating the the Australian population in the first quarter of next year, which is a terrific outcome and gives us a very, very strong position internationally in access to vaccine.

Australia has reported just over 27,600 cases of covert, 19 on 907 deaths, far less than many other developed countries.

The majority of cases have been reported in the hot spot state of Victoria, but the state reported no new cases for the sixth straight day on Thursday.