Pursuits
Gates-Backed Fund to Buy $1 Billion of Glaxo, Pfizer Shots
This article is for subscribers only.
A fund backed by Microsoft Corp. Chairman Bill Gates will buy more than $1 billion of vaccines from GlaxoSmithKline Plc, Pfizer Inc. and Merck & Co. to prevent children from dying in 37 of the poorest nations.
The GAVI Alliance will pay for shots against rotavirus and pneumococcal disease, the leading killers of children in Africa, the Geneva-based organization said in an e-mailed statement today. GAVI said it’s buying the vaccines at a discount of as much as 90 percent to the price in rich countries.