G7 nations endorse vaccine market mechanism
At a meeting of the G7 countries in London earlier this month, finance ministers approved a pilot project to spend approximately US$1 billion that will ultimately aid the development of vaccines for the world's biggest killers: AIDS, malaria, and tuberculosis. The vaccine proposal was developed by the Italian minister, Giulio Tremonti, and will ultimately emphasize the use of Advance Market Commitments (AMCs) to give pharmaceutical companies more incentive to invest in vaccines that they can then sell for a guaranteed price (see September 2005 Spotlight, An industrial incentive).
Several organizations involved in vaccine development and advocacy, including Aeras Global TB Vaccine Foundation, PATH Malaria Vaccine Initiative, and IAVI, expressed their support for AMCs as a way to combine the expertise of private industry with the urgent need to develop vaccines for the world's most neglected diseases.
All articles written by Kristen Jill Kresge