NZ joins global Covid-19 vaccine alliance

New Zealand has joined a global alliance to ensure that Kiwis are not left trailing in the race for a Covid-19 vaccine.

It comes as the United States is buying up almost all the world’s supply of remdesivir, one of only two drugs shown to work against the new coronavirus.

Foreign Affairs Minister Winston Peters said New Zealand had joined the COVAX Facility, which he said was crucial because while there were several vaccines under development, the chance of success for any individual one was low.

‘‘This way, we can spread the risk and keep our options open,’’ Peters said.

COVAX, which was recently launched by Gavi, the Vaccine Alliance, incentivises pharmaceutical companies to produce more of any vaccine.

Members of the global initiative, which already vaccinates millions of children worldwide for a range of diseases, include the World Health Organisation, Unicef, the World Bank, and the Bill & Melinda Gates Foundation.

‘‘If and when a safe, effective Covid-19 vaccine is developed, global demand will initially outstrip supply,’’ Peters said. ‘‘It is vitally important that we are part of any global initiative to pool purchasing power and share the risk involved in investing in vaccines at this early stage, to ensure we don’t miss out.’’

By joining the facility now, New Zealand would be able to help shape the way it worked and how a vaccine was eventually distributed, he said.

The details, including New Zealand’s financial contributions, were still being determined, but Research, Science and Innovation Minister Megan Woods said money was set aside in New Zealand’s vaccine strategy to be part of international collaborations.

In May, the Government announced that it was pumping $37 million into the Covid-19 vaccine strategy that would enable local manufacturing and international lobbying, to ensure New Zealand and Pacific Islands get a fair share when one is developed.

Woods said that when it came to manufacture and supply, there was likely to be a global shortage, and the strategy was essential.

‘‘We are working particularly with the research community, around whom we need to get involved, and want to ensure we have all the scientific expertise in our country coming together.

‘‘We are also continuing to work with an international framework and collaborations that are starting to form around this.’’