The Left in the European Parliament (formerly: GUE/NGL) presents a study to analyse the agreements between the European Commission and pharmaceutical companies to develop Covid-19 vaccines.
The study concludes that the examined agreements offer the companies significant benefits, whereas, based on the contract terms, they bring severe long-term disadvantages for the public.
Advanced Purchase Agreements (APAs) were part of a strategy to provide upfront financing for Covid-19 vaccines and to accelerate their development and availability. Since the beginning of the pandemic, the EU has spent more than €22 billion on COVID-19 vaccines and therapeutics (globally, at least €93 billion have been spent). APAs are "the correct public policy response to use public financing to ensure pandemic products are developed rapidly and become available equitably", the authors state. Still, based on an analysis of five contracts between the Commission (on behalf of EU Member States) and three different companies (AstraZeneca, CureVac, and Moderna), the study particularly reveals a lack of transparency and accountability, exclusive ownership of know-how, technology and intellectual property generated by massive public financing.
Advanced Purchase Agreements for Covid-19 Vaccines. Analysis and Comments
Study for the Left in the European Parliament
Pascale Boulet / Ellen ‘t Hoen / Katrina Perehudoff / Kaitlin Mara / Ernest Tan
Click here to read the full study (website of The Left in the European Parliament, formerly GUE/NGL)