Bill Gates warns against coronavirus vaccine going to the highest bidder. These warnings came in an international aid Society remote conference where he said “will have a deadly pandemic”. In other words, less developed countries should have access to any potential treatment or vaccine first. While an odd statement coming from the founder and CEO of Microsoft it is a good argument. As companies and countries draw ever close to develop a viable vaccine for the coronavirus concerns over distribution grow.
Concerns and Solutions
Bill Gates warns about the vaccine going to the highest bidder are justified to an extent. If the decision is left purely to corporate interests then wealthy countries will have the vaccine first. An unfortunate example of this was seen with several US companies that produced rubber gloves and masks. In the early days of the pandemics these companies sold their stock not to hospitals in the United States. instead of selling to their regular customers who were in desperate need they sold to foreign countries. With that as an example Bill Gates warns makes an excellent point.
On the other hand, it’s a mistake to consider treating any potential vaccine as a public goods. The reason for that would be that by that definition the vaccine would be produced without a profit. This would mean that many of the companies producing vaccine would not receive payment. As a result, they would stop working on the vaccine which would leave only the labs or contractors. Under these circumstances the time to develop a vaccine may double or even triple. Bill Gates warns do point out is a difficult situation with tough decisions to be made.