Advance Market Commitments
An advance market commitment is a binding contract, typically offered by a government or other financial entity, used to guarantee a viable market if a vaccine or other medicine is successfully developed. As a result of such a commitment, the market for vaccines or drugs for neglected diseases would be comparable in size and certainty to the market for medicines for rich countries. This would enable biotech and pharmaceutical companies to invest in the development of new vaccines to tackle the world’s most pressing health problems, such as pneumonia, diarrheal disease, HIV/AIDS, and malaria, in the normal course of their business decisions.
Read more about Advance Market Commitments: First AMC Announced Feb, 2007, Origins of The Idea, Target Product Profile
Famous quotes containing the words advance, market and/or commitments:
“I advance it therefore as a suspicion only, that the blacks, whether originally a distinct race, or made distinct by time and circumstances, are inferior to the whites in the endowments of both body and mind.”
—Thomas Jefferson (1743–1826)
“To throw obstacles in the way of a complete education is like putting out the eyes; to deny the rights of property is like cutting off the hands. To refuse political equality is like robbing the ostracized of all self-respect, of credit in the market place, of recompense in the world of work, of a voice in choosing those who make and administer the law, a choice in the jury before whom they are tried, and in the judge who decides their punishment.”
—Elizabeth Cady Stanton (1815–1902)
“When men achieve the fruits of their material success, they often become aware of an emptiness—an incompleteness—in their lives; the hollowness of having, but not raising, children, of not making true commitments to them. Which, sadly, does not mean that they weren’t capable of it.”
—Willard Gaylin (20th century)