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World Bank Task Force on Accelerating the Development of an HIV / AIDS Vaccine for Developing Countries. HIV vaccine industry study, October-December 1998. Draft.
[Unpublished] 2000 Mar 20. 13 p.Industry’s decision to invest in the development of a vaccine is a function of the risks and uncertainty of “cracking the science” to develop a viable product and the promise of the future market and revenue stream. Although vaccines have proven to be one of the most cost-effective intervention available to control disease with measles, polio, Diphtheria-Pertussis-Tetanus, BCG and tetanus toxoid 5 vaccines preventing 3 million deaths per year in developing countries, they represent less than 2% of the total pharmaceutical market. The availability of these vaccines to the world is dependent on the capacity and pricing decisions of industry. Development of new vaccines against diseases such as HIV/AIDS, malaria and tuberculosis will also depend on the investment decisions of industry. Unfortunately, investment in the development of these high priority new vaccines is low. Understanding industry’s perception of the risks and potential returns for specific vaccines is essential for public sector agencies such as the World Bank. With this information, the Bank and other partners can work with agencies and private industry to develop new strategies which “push” the development of these priority products by reducing the cost or risk of investment or “pull” them by providing market incentives. In April 1998, the World Bank created a Bank-wide AIDS Vaccine Task Force to explore the market failure resulting in under-investment in an HIV/AIDS vaccine. The Task Force commissioned a study by Mercer Management to understand the biotechnology, vaccine and pharmaceutical industries’ perspectives on R&D investment in an HIV vaccine for developing countries. The study was conducted during the fall of 1998 and was co-funded by the International AIDS Vaccine Initiative (IAVI). (excerpt)