Turns out throwing money and seeing where it sticks can work. At least when it comes to vaccines.
The administrations of both President Joe Biden and former President Donald Trump got it right when it comes to securing vaccines to combat the COVID-19 pandemic.
Trump’s Operation Warp Speed was a $14 billion partnership between government and industry that spurred a global race to develop a vaccine.
Without knowing which pharmaceuticals would succeed, the United States in early summer locked in supplies by buying millions of doses of various vaccine candidates, hedging its bets one would be effective.
It was right.
In less than a year not one, but two, vaccines were developed — Pfizer-BioNTech and Moderna — making medical history. Typically it takes years to develop vaccines. The measles vaccine, for example, took 14 years to develop.
And just this week, the Food and Drug Administration granted emergency authorization to Johnson & Johnson for a third vaccine. To speed up its production, Biden brokered a deal between Merck Pharmaceuticals and Johnson & Johnson to co-produce the vaccine. The partnership will be able to double production.
Biden announced Tuesday that enough vaccines should soon be in circulation that every U.S. adult can be vaccinated by May — speeding up the timeline by two months.
Clearly, this is how business and government can work together for the good of the country, much like the manufacturing campaigns coordinated during World War II.
Today, about 75 million doses have been administered in the U.S., a rate of about 23.2 per 100 people, among the highest in the world.
In contrast, the European Union — long the standard bearer of public health — is faltering in its vaccination efforts.
Overly cautious, health officials spent precious time ensuring legal protections for pharmaceuticals as well as haggled over prices.
They also have been slow to approve the vaccines and have purchased too few.
Vaccination rates in Germany are 7.7 per 100; France, 6.8 per 100; Spain, 8.2 per 100.
THIS ISN’T to say all is peachy keen here.