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Vaccines are one of the most cost-effective and proven technologies to save lives ever developed, but pharmaceutical companies often lack incentives to create vaccines for diseases that primarily affect the developing world. CGD examines how to improve incentives to save lives. Our research led to international backing for the Advance Market Commitment financial mechanism, where donors promise to buy a vaccine if it’s developed. Over 80 million children have subsequently been vaccinated against deadly pneumococcal disease.
Last week, Gavi, the Vaccine Alliance, completed a $7.5 billion replenishment to fund its work on immunization in the world’s poorest countries between now and 2020. Gavi’s next step is to ensure that the money is used as effectively as possible to save lives and improve health.
The majority of the world’s sick live in middle-income countries (MIC) – mainly Pakistan, India, Nigeria, China and Indonesia (or PINCI), according to new data from the Institute for Health Metrics and Evaluation (IHME) at the University of Washington. Sound familiar? Andy Sumner, Denizhan Duran, and I came to the same conclusion in a 2011 paper, but we used 2004 disease burden data, which didn’t provide an up-to-date view of reality. So I was pleased to see that our findings still hold based on IHME’s 2010 Global Burden of Disease (GBD) estimates.
CGD has been following Advanced Market Commitment (AMC) for vaccines for a while now: from its groundwork in the CGD report Making Markets for Vaccines, to its launch and the delivery of its first vaccines in 2010 (GAVI also offers a nice timeline of events here). This innovative financing mechanism aims to increase investment in vaccines for use in lower-middle income countries (LMIC)by guaranteeing a market for appropriate health products and services, reducing unpredictability or volatility that can discourage private investment, and increasing competition and innovation between companies and organizations (read more here).