Bulletin
Investor Alert

London Markets Open in:

Associated Press Archives | Email alerts

July 14, 2020, 12:49 p.m. EDT

Rich countries may try to stockpile coronavirus vaccine, according to global health partnership founded by Bill and Melinda Gates

While no country can afford to buy doses of every potential vaccine candidate, many poor ones can’t afford to place such speculative bets at all

new
Watchlist Relevance
LEARN MORE

Want to see how this story relates to your watchlist?

Just add items to create a watchlist now:

or Cancel Already have a watchlist? Log In

By Associated Press


Getty Images
NEW YORK, NY - APRIL 24: Medical workers assist people standing in line at NYC Health.

LONDON (AP) — Politicians and public health leaders have publicly committed to equitably sharing any coronavirus vaccine that works, but the top global initiative to make that happen may allow rich countries to reinforce their own stockpiles while making fewer doses available for poor ones.

Activists warn that without stronger attempts to hold political, pharmaceutical and health leaders accountable, vaccines will be hoarded by rich countries in an unseemly race to inoculate their populations first. After the recent uproar over the United States purchasing a large amount of a new COVID-19 drug, some predict an even more disturbing scenario if a successful vaccine is developed.

Dozens of vaccines are being researched, and some countries — including Britain, France, Germany and the U.S. — already have ordered hundreds of millions of doses before the vaccines are even proven to work.

While no country can afford to buy doses of every potential vaccine candidate, many poor ones can’t afford to place such speculative bets at all.

The key initiative to help them is led by Gavi, a public-private partnership started by the Bill & Melinda Gates Foundation that buys vaccines for about 60% of the world’s children.

In a document sent to potential donors last month, Gavi said those giving money to its new “Covax Facility” would have “the opportunity to benefit from a larger portfolio of COVID-19 vaccines.” Gavi told donor governments that when an effective vaccine is found within its pool of experimental shots, those countries would receive doses for 20% of their population. Those shots could be used as each nation wished.

That means rich countries can sign deals on their own with drugmakers and then also get no-strings-attached allocations from Gavi. Poorer countries that sign up to the initiative would theoretically get vaccines at the same time to cover 20% of their populations, but they would be obligated to immunize people according to an ethical distribution framework set by the United Nations.

The donor countries are “encouraged (but not required) to donate vaccines if they have more than they need,” the document says.

“By giving rich countries this backup plan, they’re getting their cake and eating it too,” said Anna Marriott of Oxfam International. “They may end up buying up all the supply in advance, which then limits what Gavi can distribute to the rest of the world.”

Dr. Seth Berkley, Gavi’s CEO, said such criticisms were unhelpful.

Right now there’s no vaccine for anyone, he said, and “we’re trying to solve that problem.”

Berkley said Gavi needed to make investing in a global vaccine initiative attractive for rich countries. Gavi would try to persuade those countries that if they ordered vaccines already, they should not attempt to obtain more, he said.

But he acknowledged there was no enforcement mechanism.

“If, at the end of the day, those legal agreements are broken or countries seize assets or don’t allow the provision of vaccines (to developing countries), that’s a problem,” Berkley said.

Gavi asked countries for an expression of intent from those interested in joining its initiative by last Friday. It had expected about four dozen high and middle income countries to sign up, in addition to nearly 90 developing countries.

1 2
This Story has 0 Comments
Be the first to comment
More News In
Economy & Politics

Story Conversation

Commenting FAQs »
Link to MarketWatch's Slice.