CNN reported on the US administration making what it called a “big bet” on a vaccine company – Moderna Inc – who has never before brought a vaccine to market.
Moderna is relatively inexperienced in this market, yet has won the biggest investment from the US Government; an investment, or promise to invest, almost USD $500M.
In this report, it’s effectively insinuated that President Donald Trump had his head turned by Moderna’s “pitch” however, they are looking to produce a vaccine “within months” which, while a “big bet” will potentially be significantly faster than the traditional processes would take.
While risks come with reward in business, a gamble like this on public health is very much unprecedented. That said, the current pandemic is a situation which has never been experienced in modern times.
Lots of solutions need financial backing, if we are to achieve a good solution to Covid-19, and this is one such option.
In a situation like this, the state has only a few big levers it can pull, and financing multiple producers to come up with a vaccine is one such lever. Having a race to produce a vaccine which could save millions of lives seems, on the face of it, to be a good idea. The state – and the global community – perhaps don’t really care who wins this race, as long as a safe, working, vaccine is developed as soon as possible?
What do you think? Leave a comment, below.