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. 2020 Sep 3;38(39):6075-6077.
doi: 10.1016/j.vaccine.2020.07.068. Epub 2020 Jul 31.

Ensuring access and affordability through COVID-19 vaccine research and development investments: A proposal for the options market for vaccines

Rebecca Forman  1 , Michael Anderson  2 , Mark Jit  3 , Elias Mossialos  4
Affiliations

Ensuring access and affordability through COVID-19 vaccine research and development investments: A proposal for the options market for vaccines

Rebecca Forman et al. Vaccine. .

Abstract

  1. •

    Currently, unconditional investment is being made into COVID-19 vaccine R&D COVID-19 vaccine R&D investments should also ensure access and affordability.

  2. •

    The options market for antibiotics, could be adapted for use with COVID-19 vaccines.

  3. •

    This could help fund R&D, boost manufacturing capacity and secure fair prices.

  4. •

    Further research on the OMV model in the current COVID-19 crisis is warranted.

Keywords: Covid19; Health policy; Innovative financing mechanisms; Manufacturing capacity; Research and development.

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Conflict of interest statement

Declaration of Competing Interest The authors declare that they have no known competing financial interests or personal relationships that could have appeared to influence the work reported in this paper.

Figures

Fig. 1
Fig. 1
COVID-19 Vaccine Approval Timeline with Call Options A and B (Adapted from Brogan & Mossialos, 2013). (A) The price of purchasing Option A is discounted because the vaccine is in early stages of R&D and thus it is a risky investment. If the vaccine successfully develops, the investor will save in the long-term since they will purchase the COVID-19 at a price (C) lower than the market price. (B) The price of purchasing Option B is higher than price (C) because the vaccine is in a late-stage of development and thus the investment has minimal risk. Options purchased at later stages of development, such as Option B, may include requirements for investments in manufacturing capacity to accelerate widespread access to the vaccines once they are successfully developed. The level of discount and the ultimate price level will be dependent on the time and size of investments made by governments/superfunds.
See this image and copyright information in PMC

References

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MeSH terms