EDITORIAL: As the US and the UK have started using the Pfizer covid-19 vaccine and Moderna's vaccine has also gotten approved, some other EU countries, such as Germany and France, have already locked up contracts with other firms. But poorer counties may not have access to vaccines until as late as 2024. A press report quoting internal documents of the World Health Organization's COVAX programme - one of the three pillars of the Access to Covid-19 Tools (ACT) and the main global scheme to vaccinate people in poor and middle income countries - says the risk of failure to establish a successful COVAX Facility is "very high". The programme is struggling due to lack of funds, supply risks, and complex contractual arrangement which could make it impossible to achieve its goals.
The Pfizer and Moderna vaccines are unfeasible for poorer nations, as the former costs about $ 18.40 to 19.50 per dose and the latter costs $25 -$37. They also require pretty complicated ultra-cold distribution chains. The COVAX plans therefore rely on cheap vaccines produced by AstraZeneca, Novavax and Sanofi at an average price of $ 5.20. But they have yet to receive approval. It is also trying to include vaccines from other companies. But the facility faces the prospects of failure because the vaccine prices are higher than anticipated. To meet its current target of vaccinating 20 percent of the people in poor countries COVAX says it needs $4. 9 billion in addition to $2.1 billion it has already collected. That should not be so difficult for the developed countries to provide. But the US, a major financial contributor to the World Health Organisation (WHO), has started pulling out of the body after President Donald Trump accused it of mismanaging the coronavirus pandemic. That though is about to change come January 20 when Joe Biden who has vowed to rejoin the WHO becomes president. At present, Britain and EU countries are the main donors. Considering the gravity of the situation all rich counties, including China, need to do a lot more to help the world deal with the challenge.
The major hitch in risk mitigation is said to be the COVAX's purchase contracts, under which countries could cancel their orders if they prefer other vaccines, or manage to acquire them through other schemes faster or at better prices. Or, they are unable to pay for their orders. These clauses, perhaps, are negotiable. But the bigger issue is funding. That though should not be so difficult for the wealthier nations to address. All the more so, considering that we are all in this together. The way the coronavirus quickly spread to big and small towns all over the world shows in today's connected world countries cannot keep out such highly contagious and lethal viruses. No one is safe unless all are safe. The richer nations, therefore, need to step up and do everything necessary to mitigate the risks the WHO is faced with in combating the deadly virus.
Copyright Business Recorder, 2020
Comments
Comments are closed for this article.