The long term and wide spread safety aspects are going to remain untested if we release the vaccines next year. If early testing indeed has produced a a "safe and effective" result, the pressure to release these vaccines will be enormous.
This from William Petri, Professor of Medicine at the University of Virginia
Several vaccines are in Phase 3 trials. So at what point will we be certain that one or more can provide protection against the coronavirus?
www.pri.org
Will Emergency Use Authorization fast-track vaccine?
In an emergency such as we are faced with the COVID-19 pandemic, with approximately 700 new deaths and 40,000 new cases per day right now (sept 25), the FDA is authorized to allow the use of unapproved products for the diagnosis, treatment and prevention of disease. That includes a vaccine.
The standard approval process for vaccines can require more than one year of observation after vaccination. If short-term safety is good and the vaccine works to prevent COVID-19, then the vaccine should be approved for use under an Emergency Use Authorization while it is still being studied.
Under Emergency Use Authorization, the FDA will continue to collect information from the companies producing the vaccines for benefit and harm, including surveillance of vaccine-associated enhanced respiratory disease or other potentially rare complications that might be observed in only one in a million.
In a nutshell, the public will be the test subjects for longer term testing.
Today, (Nov 11) the US are currently running at the rate of 1400 deaths per day due to this virus and by early Feb, it is projected to be about 2200 deaths per day. If the virus is indeed 90% effective, those become preventable deaths and from a societal point of view, if early tests show that the risk is a lot lower than that, then the vaccine makes sense to roll out. It now comes down to what an individual decides to do.
I don't have to make a decision right now, so I'm going to watch and wait to see what happens. I'm not in any group that will be offered the first doses either, so I really can't choose anyway. I want to be free of this thing. My family wants to be free of it too. We'll probably take the vaccine it becomes available to us but I want to have a look at the data before I do. By then a lot more data will be available.
But to your point, Pfizer and other companies that can show they have done due diligence in lab analysis and animal testing and have shown their vaccine to be safe and effective after early testing (phase three) will not be held liable if it turns out to be worse than expected.