Gavi, the vaccine alliance, announced on Thursday that it had signed an agreement with Novavax to supply 1.1 billion doses of the company's NVX-CoV2373 Covid vaccine candidate to the Covax facility.
The advance purchase agreement is a critical step towards making sure doses of the vaccine, should it be approved and licensed, will be made available to all countries participating in the Covax programme.
A recent Novavax trial showed it offers 89 per cent protection against the original and Kent strains of the virus. This figure drops to 60 per cent for the strain first discovered in South Africa.
Gavi's advance purchase agreement with Novavax, coupled with its existing agreement with the Serum Institute of India, underpins the deal.
“This agreement brings the Covax facility one step closer to its goal of supplying vaccines globally and ending the acute phase of the pandemic,” said Dr Seth Berkley, Gavi chief executive.
“It helps us close in on our goal of delivering two billion doses in 2021, and increases the range of vaccines available to us as we build a portfolio suitable for all settings and contexts.”
As Covax co-lead, Gavi oversees the design, co-ordination and implementation of the facility, a global mechanism that seeks to procure, equitably allocate and deliver at least two billion doses of safe and effective Covid vaccines by the end of 2021.
Ninety-eight higher-income economies have signed up as self-financing members of the facility, joining 92 low and middle-income economies who will have their participation supported by the Gavi Covax advance market commitment.
"Gavi's role in ensuring widespread and equitable access to vaccines worldwide is critical to solving this global public health crisis," said Stanley C Erck, president and chief executive of Novavax.
“This partnership represents significant progress in [our] quest to deliver an urgently needed safe and effective vaccine across the globe.”
The accord marks an auspicious day for Covax. US President Joe Biden will use his first big presidential moment on the global stage at Friday’s G7 summit to encourage member states to make good on their pledges to the organisation.
He will also announce that the US will soon release $4 billion for an international effort to bolster the purchase and distribution of coronavirus vaccines to poor nations, White House officials said on Thursday.
Killing of Qassem Suleimani
THE BIO
Born: Mukalla, Yemen, 1979
Education: UAE University, Al Ain
Family: Married with two daughters: Asayel, 7, and Sara, 6
Favourite piece of music: Horse Dance by Naseer Shamma
Favourite book: Science and geology
Favourite place to travel to: Washington DC
Best advice you’ve ever been given: If you have a dream, you have to believe it, then you will see it.
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FA Cup quarter-final draw
The matches will be played across the weekend of 21 and 22 March
Sheffield United v Arsenal
Newcastle v Manchester City
Norwich v Derby/Manchester United
Leicester City v Chelsea
Tearful appearance
Chancellor Rachel Reeves set markets on edge as she appeared visibly distraught in parliament on Wednesday.
Legislative setbacks for the government have blown a new hole in the budgetary calculations at a time when the deficit is stubbornly large and the economy is struggling to grow.
She appeared with Keir Starmer on Thursday and the pair embraced, but he had failed to give her his backing as she cried a day earlier.
A spokesman said her upset demeanour was due to a personal matter.
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Benefits of first-time home buyers' scheme
- Priority access to new homes from participating developers
- Discounts on sales price of off-plan units
- Flexible payment plans from developers
- Mortgages with better interest rates, faster approval times and reduced fees
- DLD registration fee can be paid through banks or credit cards at zero interest rates
UAE currency: the story behind the money in your pockets
Read more about the coronavirus
SPECS
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TEAMS
US Team
Dustin Johnson, Jordan Spieth
Justin Thomas, Daniel Berger
Brooks Koepka, Rickie Fowler
Kevin Kisner, Patrick Reed
Matt Kuchar, Kevin Chappell
Charley Hoffman*, Phil Mickelson*
International Team
Hideki Matsuyama, Jason Day
Adam Scott, Louis Oosthuizen
Marc Leishman, Charl Schwartzel
Branden Grace, Si Woo Kim
Jhonattan Vegas, Adam Hadwin
Emiliano Grillo*, Anirban Lahiri*
* denotes captain's picks
UAE currency: the story behind the money in your pockets
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The Melbourne Mercer Global Pension Index
The Melbourne Mercer Global Pension Index
Mazen Abukhater, principal and actuary at global consultancy Mercer, Middle East, says the company’s Melbourne Mercer Global Pension Index - which benchmarks 34 pension schemes across the globe to assess their adequacy, sustainability and integrity - included Saudi Arabia for the first time this year to offer a glimpse into the region.
The index highlighted fundamental issues for all 34 countries, such as a rapid ageing population and a low growth / low interest environment putting pressure on expected returns. It also highlighted the increasing popularity around the world of defined contribution schemes.
“Average life expectancy has been increasing by about three years every 10 years. Someone born in 1947 is expected to live until 85 whereas someone born in 2007 is expected to live to 103,” Mr Abukhater told the Mena Pensions Conference.
“Are our systems equipped to handle these kind of life expectancies in the future? If so many people retire at 60, they are going to be in retirement for 43 years – so we need to adapt our retirement age to our changing life expectancy.”
Saudi Arabia came in the middle of Mercer’s ranking with a score of 58.9. The report said the country's index could be raised by improving the minimum level of support for the poorest aged individuals and increasing the labour force participation rate at older ages as life expectancies rise.
Mr Abukhater said the challenges of an ageing population, increased life expectancy and some individuals relying solely on their government for financial support in their retirement years will put the system under strain.
“To relieve that pressure, governments need to consider whether it is time to switch to a defined contribution scheme so that individuals can supplement their own future with the help of government support,” he said.
