Stay updated with breaking news from Advance Market Commitment. Get real-time updates on events, politics, business, and more. Visit us for reliable news and exclusive interviews.
By settling now and agreeing to deferred payments over the next five years, Novavax avoids the risk of being responsible for a much bigger payout all at once. The arbitration hearing over the disputed vaccine purchase agreement with Gavi was scheduled for this summer.
Regulation plays a vital role in ensuring the quality, safety, and efficacy of vaccines—and a strong regulatory system is key to successfully expanding vaccine manufacturing. The Gavi Secretariat is currently fine-tuning the design of a new Advance Market Commitment (AMC)—a financial mechanism to subsidize African-made vaccines and provide the needed “pull” for a nascent, competitive industry.
One of the most salient lessons from the pandemic is the need to diversify manufacturing capabilities and bolster supply resilience to avoid a repeat of the slow and inequitable vaccine roll out in African countries. To turn this lesson into action, the Gavi Secretariat is rapidly advancing plans for a new financial mechanism in the form of an Advance Market Commitment (AMC) to ‘pull’ African-made vaccines to market.
Despite verbal nods to global cooperation, equity, and solidarity, the COVID-19 pandemic laid bare a brutal realpolitik: all countries will put their citizens first and vaccinate their own populations, before offering charitable leftovers beyond their own borders. Sub-Saharan Africa, more than any other region, learned this lesson the hard way, as COVID-19 vaccines were too few and too late to adequately scale vaccination coverage. African leaders now increasingly recognize that their only path to real health security (“Never Again”) is through self-sufficiency—and that means developing ...
Coronavirus - Ethiopia: The United States Shares 6.9+ Million Doses of COVID-19 Vaccine with Ethiopia