Rich nations have bought up 51% of COVID-19 vaccine supply

Rich nations have bought up 51% of COVID-19 vaccine supply

Oxfam International has issued a statement warning that wealthy nations, representing just 13 percent of the world’s population, have already cornered more than half (51 percent) of the promised doses of leading COVID-19 vaccine candidates.

Oxfam is a global movement of people who are fighting inequality to beat poverty together. As the Health and Finance Ministers of G20 countries are set to meet to discuss the global pandemic in a virtual meeting, Oxfam warned that a small group of rich nations have bought up more than half the future supply of leading COVID-19 vaccine contenders.

There are currently five leading vaccine candidates in phase-3 clinical trials. If all the five vaccines succeed nearly two thirds (61 percent) of the world’s population will not have a vaccine until at least 2022.

According to Oxfam, Moderna, one of the leading vaccine candidates, has received $2.48 billion in committed taxpayer’s money. However, the company stated that it intends to make a profit from its vaccine and has therefore sold the options for all of its supply to rich nations. The prices range from $12-16 in the US per dose and around $35 per dose in other countries. Reports say that the company is capable of producing enough for only 475 million people, that accounts for a mere 6 percent of the world’s population.

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