Covax is an initiative Global Alliance for Vaccines and Immunization (Gavi) founded by Bill and Melinda Gates. Therefore, the Covax pillar is a global alliance for ensuring the equitable distribution of the upcoming coronavirus vaccine. Because there are numerous COVID-19 vaccines in development, it spurned the need for a COVAX Pillar. Gavi confessed that one or more vaccines are needed to end the coronavirus and there is no certainty regarding which of the ongoing projects will ultimately succeed in producing a safe and effective vaccine. Normally, the probability of success for a vaccine in the preclinical phase is around 7%, rising to 15-20% for vaccines that reach clinical tests. Thus, we know that most candidate vaccines are likely to fail.
For this reason, Gavi seeks to ensure that all the most suitable candidate vaccines get the backing they need to give us the greatest chances of succeeding. Backing a more diverse portfolio of vaccines increases the likelihood of getting a successful COVID-19 vaccine. Furthermore, as speed is critical in this pandemic, the initiative states that it can’t wait until testing is finished to make vaccines – because if they do, there will be enormous delays before large quantities are available. They have decided to produce vaccines at scale before knowing if it works. By giving things to chance, failures translate to wasted effort and money; while success means there are vaccines to use immediately. Since demand for a successful vaccine will be high and supply will be limited, it is important to ensure access to any successful vaccines is equitable and not dependent upon ability to pay.
The COVAX pillar pools resources from participating countries to back more candidate vaccines than any single country could do alone. The COVAX Pillar portfolio of COVID-19 vaccine candidates is the largest in the world. This principle works not just for development but also manufacturing. Normally it can take over a decade to develop a vaccine. Yet, Gavi aims to be ready to manufacture up to 2 billion doses by the end of 2021.
Seventy-five countries have submitted expressions of interest to protect their populations and those of other nations through joining the COVAX Facility. The 75 countries, which would finance the vaccines from their own public finance budgets, partner with up to 90 lower-income countries that could be supported through voluntary donations to Gavi’s COVAX Advance Market Commitment (AMC). Together, this group of up to 165 countries represents more than 60% of the world’s population. Among the group are representatives from every continent and more than half of the world’s G20 economies.