This document presents comprehensive, ethics-based considerations to guide national decisions on allocating pandemic products such as vaccines, therapeutics, and diagnostics. Drawing on lessons from past pandemics, including COVID-19, it outlines how countries can design fair, transparent, and effective allocation systems that balance equity, efficiency, reciprocity, procedural fairness and other ethical principles. The document also considers key trade-offs, identifies unethical practices to avoid, and provides practical guidance on operationalizing allocation through data-driven criteria, governance mechanisms, monitoring and evaluation, and contingency planning. Overall, it offers a roadmap for building resilient, adaptable allocation approaches that promote health equity and maximize public health impact during pandemics.