Axel van Trotsenburg @WorldBank discussed about Advanced Market Commitment at #wvcusa
Advanced Market Commitment: Today at World Vaccine Congress Washington, Axel van Trotsenburg from the World Bank delivered a presentation about Adavanced Market Commitmen. See below the main highlights of his presentation:
We are faced with major health challenges that millions each day are dying from. This is a challenge for the international community to get together and tackle these issues.
While common perception is that leading infectious disease killers in the world are AIDS, TB and Malaria, if you look further, diarrhea is a major killer – larger than both TB and Malaria and pneumococcal disease kills more people than HIV/AIDS. This put the need to address pneumococcal disease into a new perspective.
A few years ago in 2005, there was no new financing available for developing country vaccine purchase. The available pneumocoocal vaccine was too expensive and the supply was limited. It was manufactured in vial sizes that country did not want. There was no WHO recommendation and noWHO disease burden estimates by country.
The World Bank created a pilot with GAVI to address pneumococcal disease using Advanced Market Commitments, bringing together vaccine industry, beneficiary countries and funding organizations. Countries including Italy, UK, Canada, Russia and Norway utilized development budgets to contribute. The World Bank issued bonds for which donors committed seven billion dollars.
There have been impressive results. In the US, the purchase price is $95. For GAVI, target price now is $3.50 and in 5-8 years is $2.50. AMC target vaccine is being introduced rapidly in poor countries. About 20 million children have been vaccinated to date. More countries coming in and it will be further scaled up in 2013.
World Bank thinks this is a very good pilot and more need to be done. Companies, government and NGOs need to be creative, open and flexible to find solutions for low income countries in desperate need.
Unfortunately, this pilot was created before the financial crisis so no new programs are in place beyond this pilot. For example, Italy was the largest country donor and they cannot make this type of contribution in the current environment. This is one of the greatest challenges today to stay engaged with developing countries
Find out more about Axel van Trotsenburg on our website: www.terrapinn.com/vaccineusa or check back here in a couple of days for the presentation. Interesting presentation Axel!