Description
Book SynopsisMaking a commitment in advance to buy vaccines if and when they are developed would create incentives for industry to increase investment in research and development. New commercial investment would complement funding of research and development by public and charitable bodies, accelerating the development of vital new vaccines for the developing world.
This report presents the proposal from theory to practice, by showing how a commitment can be consistent with ordinary legal and budgetary principles. By creating arrangements that devote the same scientific effort to diseases of the poor as we put into diseases of the rich, we can make a lasting contribution to the defeat of poverty.
Trade Review"MAKING MARKETS FOR VACCINES goes to the heart of one of the most tragic market failures of our times." —Trevor Manuel, Minister of Finance, South Africa
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"[This book] offers specific and creative proposals for utilizing market mechanisms to address one of the critical challenges facing the world today." —Meles Zenawi, Prime Minister, Ethiopia
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"This is an innovative and practical idea which would unleash the resources of the private sector to develop vaccines that would protect millions of people from terrible diseases. MAKING MARKETS FOR VACCINES is policy analysis at its best: realistic, evidence-based and focused on the world's most pressing challenges." —Tony Blair, Prime Minister, United Kingdom
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"The advance purchase commitments recommended in this book will provide important additional incentives for private sector research and development... The authors are to be congratulated for bringing this incisive analysis forward at a time when major breakthroughs are possible in development finance." —Richard G. A. Feachem, Executive Director, The Global Fund to Fight AIDS, Tuberculosis, and Malaria
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"The idea explored in this remarkable book--that a firm commitment be made to buy vaccines at prices and in quantities that attract private resources into developing urgently needed new vaccines--is an interesting and important innovation. It deserves the widest possible attention and action." —Prof. Jagdish Bhagwati, Columbia University, author of IN DEFENSE OF GLOBALIZATION
