Breaking News
Investing Pro 0
Free Webinar - The Role of Psychology in Trading - Thursday, December 8, 2022 | 04:00PM EST Enroll Now

Gates Foundation pledges $250 million more for battle against COVID-19

Stock Markets Dec 10, 2020 01:55AM ET
Saved. See Saved Items.
This article has already been saved in your Saved Items
 
© Reuters. Bill Gates, Co-Chair of Bill & Melinda Gates Foundation, attends a conversation at the 2019 New Economy Forum in Beijing
 
PFE
+3.07%
Add to/Remove from Watchlist
Add to Watchlist
Add Position

Position added successfully to:

Please name your holdings portfolio
 
MRNA
+3.18%
Add to/Remove from Watchlist
Add to Watchlist
Add Position

Position added successfully to:

Please name your holdings portfolio
 

(Reuters) - The Bill and Melinda Gates Foundation on Thursday pledged an additional $250 million to support the development of low-cost and easier to deliver treatments and vaccines against COVID-19.

The Gates Foundation's latest contribution, its largest till date, comes on top of the $70 million funding that it added in November. This brings its total commitments to the global pandemic response to $1.75 billion, the foundation said.

"Whether (the world) gets better for everyone depends on the actions of the world's leaders and their commitment to deliver tests, treatments and vaccines to the people who need them," said Melinda Gates, co-chair of the Gates Foundation.

The contribution will also support the delivery of tests and vaccines in low- and middle-income countries, the foundation added.

Britain became the first country on Tuesday to roll out a COVID-19 vaccine with a 90-year-old grandmother receiving the first shots of the Pfizer-BioNTech vaccine.

Canada approved the same vaccine on Wednesday, while the U.S. U.S. Food and Drug Administration (FDA) said it met its expectations for emergency use authorization ahead of a Thursday meeting of outside experts, who will discuss whether to recommend it.

However, Pfizer (NYSE:PFE)'s vaccine does face challenges https://reut.rs/374bNqO, especially in the lower-income countries because of its ultra-cold storage requirements. It must be shipped and stored at minus 70 degrees Celsius (minus 94°F), significantly below the standard for vaccines of 2-8 degrees Celsius (36-46°F).

"We have new drugs and more potential vaccines than we could have expected at the start of the year. But these innovations will only save lives if they get out into the world," said Bill Gates, co-chair of the Gates Foundation.

Another U.S. drugmaker Moderna (NASDAQ:MRNA) Inc, which has said its vaccine is 94.5% effective in an interim analysis, has already applied for authorization in the U.S. and European Union.

Gates Foundation pledges $250 million more for battle against COVID-19
 

Related Articles

Add a Comment

Comment Guidelines

We encourage you to use comments to engage with other users, share your perspective and ask questions of authors and each other. However, in order to maintain the high level of discourse we’ve all come to value and expect, please keep the following criteria in mind:  

  •            Enrich the conversation, don’t trash it.

  •           Stay focused and on track. Only post material that’s relevant to the topic being discussed. 

  •           Be respectful. Even negative opinions can be framed positively and diplomatically. Avoid profanity, slander or personal attacks directed at an author or another user. Racism, sexism and other forms of discrimination will not be tolerated.

  • Use standard writing style. Include punctuation and upper and lower cases. Comments that are written in all caps and contain excessive use of symbols will be removed.
  • NOTE: Spam and/or promotional messages and comments containing links will be removed. Phone numbers, email addresses, links to personal or business websites, Skype/Telegram/WhatsApp etc. addresses (including links to groups) will also be removed; self-promotional material or business-related solicitations or PR (ie, contact me for signals/advice etc.), and/or any other comment that contains personal contact specifcs or advertising will be removed as well. In addition, any of the above-mentioned violations may result in suspension of your account.
  • Doxxing. We do not allow any sharing of private or personal contact or other information about any individual or organization. This will result in immediate suspension of the commentor and his or her account.
  • Don’t monopolize the conversation. We appreciate passion and conviction, but we also strongly believe in giving everyone a chance to air their point of view. Therefore, in addition to civil interaction, we expect commenters to offer their opinions succinctly and thoughtfully, but not so repeatedly that others are annoyed or offended. If we receive complaints about individuals who take over a thread or forum, we reserve the right to ban them from the site, without recourse.
  • Only English comments will be allowed.

Perpetrators of spam or abuse will be deleted from the site and prohibited from future registration at Investing.com’s discretion.

Write your thoughts here
 
Are you sure you want to delete this chart?
 
Post
Post also to:
 
Replace the attached chart with a new chart ?
1000
Your ability to comment is currently suspended due to negative user reports. Your status will be reviewed by our moderators.
Please wait a minute before you try to comment again.
Thanks for your comment. Please note that all comments are pending until approved by our moderators. It may therefore take some time before it appears on our website.
Comments (4)
Alex Cavasin
Alex Cavasin Dec 10, 2020 5:17AM ET
Saved. See Saved Items.
This comment has already been saved in your Saved Items
we don't need anti covid vaccines...we need anti gates vaccines
Meself Meself
Meself Meself Dec 10, 2020 3:42AM ET
Saved. See Saved Items.
This comment has already been saved in your Saved Items
Experiments on Africans and Indians, what a great guy
Lawrenti Berija
Lawrenti Berija Dec 10, 2020 2:03AM ET
Saved. See Saved Items.
This comment has already been saved in your Saved Items
250 M - bill has this kind on money under his fingernails.
Henrik Lindberg
Henrik Dec 10, 2020 2:03AM ET
Saved. See Saved Items.
This comment has already been saved in your Saved Items
He's the one responsible for so many deaths using African countries for testing vaccines...
 
Are you sure you want to delete this chart?
 
Post
 
Replace the attached chart with a new chart ?
1000
Your ability to comment is currently suspended due to negative user reports. Your status will be reviewed by our moderators.
Please wait a minute before you try to comment again.
Add Chart to Comment
Confirm Block

Are you sure you want to block %USER_NAME%?

By doing so, you and %USER_NAME% will not be able to see any of each other's Investing.com's posts.

%USER_NAME% was successfully added to your Block List

Since you’ve just unblocked this person, you must wait 48 hours before renewing the block.

Report this comment

I feel that this comment is:

Comment flagged

Thank You!

Your report has been sent to our moderators for review
Continue with Google
or
Sign up with Email