Financial Mirror (Cyprus)

Vaccine producers must step up

- By Jeffrey D. Sachs Jeffrey D. Sachs, University Professor at Columbia University, is Director of the Center for Sustainabl­e Developmen­t at Columbia University and President of the UN Sustainabl­e Developmen­t Solutions Network. © Project Syndicate, 2021.

The world stands at a critical juncture of the COVID-19 pandemic. Countries that lack the first round of vaccine coverage are extraordin­arily vulnerable to the highly infectious Delta variant, and are also seedbeds for new variants that could quickly spread worldwide. The Lancet COVID-19 Commission, which I chair, is working urgently with the United Nations system to strengthen the multilater­al response. Government­s of countries where vaccines are being produced – the United States, European Union members, the United Kingdom, India, Russia, and China – need to cooperate under UN leadership to ensure that a sufficient supply of vaccine doses reaches the poorest countries.

The high-income countries now have more than 50% of their population fully vaccinated. Yet the fully vaccinated population in Africa remains under 4%. This lack of vaccine coverage in Africa, and in lowincome countries elsewhere, poses an imminent danger to these population­s.

US President Joe Biden has called for a vaccine summit on September 22. This is potentiall­y a highly significan­t step forward. It is important that the US hold this meeting in cooperatio­n with China, India, Russia, and the other vaccine-producing countries, and with the UN system. Only the UN, with its universal membership and its operationa­l capacity in low-income countries, has the ability to coordinate the rapid global scale-up of vaccine coverage.

In April 2020, the UN created the COVID19 Vaccine Global Access (COVAX) facility to provide vaccines to lower-income countries. These countries expected COVAX to provide timely deliveries. Yet COVAX has been unable to buy a sufficient volume of vaccine doses mainly because high-income countries have repeatedly cut to the front of the queue. Moreover, the vaccine-producing countries’ government­s have imposed export quotas so that COVAX is often unable to secure even the vaccines for which it has contracts. The company shareholde­rs are of course happy with these arrangemen­ts, because the rich countries pay more for the doses than COVAX would.

The supply crisis facing low-income countries in Africa and elsewhere will not resolve itself. On the contrary, high-income countries are now beginning to offer a third dose, even before highly vulnerable groups in the poorest countries (the elderly, health workers, the immunocomp­romised, and others) have received their primary vaccinatio­n.

Global opportunit­ies for scaling up vaccine production are also being hampered by some government­s’ continued insistence on enforcing the patents on key vaccine technologi­es, even though these patents are held by academic institutio­ns that were funded by the government­s (notably by the US National Institutes of Health). Likewise, public money funded the clinical trials and rollout of the vaccines. Despite the global urgency of the pandemic, life-saving public goods have been privatized.

The World Health Organizati­on has set minimum targets for vaccine coverage in every country – at least 10% of the population by end-September 2021, 40% by end-2021, and 70% by end-June 2022 – that the current vaccine allocation system will not achieve. At this moment of great global peril, the government­s of the vaccinepro­ducing countries should take the following steps:

First, when government­s meet this week at Biden’s vaccine summit, they should chart a path to achieve the WHO targets in all countries, including 40% global coverage by the end of this year. The vaccine producers should cooperate fully by disclosing all existing orders (and prices) on their books, so that the UN and government­s can prioritize under-served countries.

Second, the UN system, with the full support of government­s and companies, should set delivery timelines for every lowincome country aligned with the WHO targets. The WHO and COVAX, and other UN agencies such as UNICEF, should work with the recipient countries to scale up the “lastmile” deployment systems for the arrival of the vaccine doses.

Third, the new $650 billion allocation of special drawing rights just approved by the Internatio­nal Monetary Fund should be used, in conjunctio­n with other emergency financial resources, to ensure that shortterm financing constraint­s pose no obstacles to the supply of vaccines.

Fourth, the government­s of the vaccinepro­ducing countries should agree, in line with long-standing trade agreements on public health, to waive intellectu­al property rights and to promote technology sharing in order to increase global vaccine production. Promising vaccines that are now in clinical trials should also be supported with official financing for rapid production and deployment upon regulatory approval.

Lastly, government­s in all countries should make clear to the public that the vaccines are not sufficient­ly effective on their own to suppress the community transmissi­on of the coronaviru­s. Additional public health measures – including face masks, physical distancing, contact tracing, and limits on indoor gatherings – are still needed.

The bottom line is that we must treat universal vaccine coverage as an urgently needed global public good, not as an eventual outcome of market forces. Biden’s vaccine summit this week can provide the vital breakthrou­gh we need, by empowering the UN with the vaccine doses and finances it needs to ensure immunizati­on for all.

 ?? ??

Newspapers in English

Newspapers from Cyprus