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Innovative financing tools, such as pooled funding, demand aggregation, advance purchase agreements, volume guarantees, and leveraging balance sheets will be critical to rapid procurement and deployment of coronavirus medical products. A crisis of this scale requires creative thinking. In the same way that scientists and politicians have ditched business as usual to respond to the pandemic, financing institutions should do the same. We need to be willing to do ‘whatever it takes’.

This will mean taking new risks while maintaining the highest standards of rigour. With the bleak projections for the post-COVID-19 economy, smart finance can build diverse partnerships to leverage commitments and spread risk. It is a good time to learn from existing tools, such as the International Finance Facility for Immunisation, and adapting them for the world that will emerge in late 2020 and beyond.

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Sustainable Development Goal (SDG) 3 is to: Ensure healthy lives and promote wellbeing for all at all ages. One of the targets under this goal is to: End AIDS as a public health threat by 2030. We are currently way off track to meet this target.

If we are to avoid further cases of HIV transmission, every patient would need the viral load of HIV in their bloodstream reduced to undetectable levels – meaning HIV becomes untransmittable (U=U). This is achievable with antiretroviral treatment, if taken consistently and correctly.

That’s why viral load testing is so important: to monitor whether antiretroviral treatment is working and adjust treatment if necessary.

Currently, only 56% of people living with HIV have routine access to HIV viral load testing. This low access level is driven by market failure, caused by high and variable pricing, limited competition, and opaque purchasing arrangements.

Through collaboration, innovation and investment, we may have treatments and vaccines against coronavirus in record time. However, history will judge our generation on how quickly these medical advances reach people living in the poorest parts of the world.

Through collaboration, innovation and investment, we may have treatments and vaccines against coronavirus in record time. However, history will judge our generation on how quickly these medical advances reach people living in the poorest parts of the world.

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The partnership

This deal came to fruition via a partnership between MedAccess, the Clinton Health Access Initiative (CHAI), and the global diagnostic supplier – Hologic. We named it the Global Access Initiative.

  • MedAccess has a volume guarantee with Hologic, meaning we will fund any shortfalls in expected sales.
  • Hologic’s part of the agreement is to reduce prices and accelerate supplies to low- and middle-income countries.
  • CHAI’s part of the agreement
Read more

Unprecedented collaboration between science, industry and government is driving new vaccine development at record speed. Chinese scientists shared the virus genome within days. Anti-viral treatments are being tested in weeks rather than years. And finance ministries have adopted fiscal stimulus packages which utterly defy decades of economic orthodoxy.

Through collaboration, innovation and investment, we may have treatments and vaccines against coronavirus in record time. However, history will judge our generation on how quickly these medical advances reach people living in the poorest parts of the world.

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Even with lower prices, higher volumes of products can drive bigger profits. Our partnerships are beneficial for producers and procurers.

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Even with lower prices, higher volumes of products can drive bigger profits. Our partnerships are beneficial for producers and procurers.

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MedAccess timeline:
Key milestones

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2017
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