Driving research and development where no paying market exists.
Research and development for new drugs, vaccines, and diagnostics is a risky business. The average drug can take a decade or longer to make and costs companies and investors millions of dollars.
At BVGH, we understand that breaking through the financial barrier is critical to engaging companies in developing new drugs, vaccines, and diagnostics for neglected diseases.
To overcome this hurdle, we create and advocate for concrete research and development incentives and prizes that enable more companies to participate in global health product development.
BVGH has designed the new Global Health Innovation Quotient Prize (IQ Prize) that can encourage biotechs to compete to develop urgently needed global health products. Designed in stages, companies receive ‘milestone’ awards along the way as they move through the product development process.
Policies in Practice
BVGH worked closely with global health partners, the U.S. government, and the biopharamaceutical industry to shape and promote these incentives:
- Priority Review Vouchers (PRVs) – Any organization that gains FDA approval for a drug used to treat a neglected tropical disease is rewarded with a voucher that speeds up the approval process for a future drug.
- Advance Market Commitments (AMCs) – Donor-sponsored funding agreements guarantee innovators a set price for developing medicines for neglected diseases (provided that those medicines meet certain pre-set criteria).