Vaccine delay costs “huge amounts of money”

Relationship between vaccines and the economy.

Relationship between vaccines and the economy.

The professor of Quantitative Methods in Economics and Management of the University of Las Palmas de Gran Canarito, Beatriz González López-Valcárcel publishes on the scientific dissemination platform ‘The Conversation’ an article entitled “The delays in vaccination it has a high economic cost ”. In this article, the ULPGC researcher indicates that “since the beginning of 2021, with a few vaccines already approved and others about to end their clinical trials, all the organisms that publish economic predictions associate the march of the (macro) economy to the evolution of vaccination ”.

“The macroeconomic cost of Covid-19 for Spain in 2020 it could suppose up to 200,000 million dollars in GDP losses, comparing the real figures with the counterfactual world without a pandemic in which we would have grown by 1.6% of GDP ”.

“Research on vaccines against the AIDS virus has amounted to 15.3 billion dollars in 20 years, specifically between 2000 and 2019. Only the United States has spent, in 2020, 10 billion dollars on R&D for the COVID vaccine. And the projected global spending is $ 39.5 billion. ”

“Therefore, a month in advance or delay in the population vaccination that allows a return to economic normality supposes huge amounts of money. Unfortunately, Europe is about five weeks behind in vaccination compared to the US) ”, says the researcher from the ULPGC.

“This costly delay is due to several causes. It has been a well thought out but poorly executed strategy, due to delays in decisions and negotiations with companies. Until mid-June, when the US had already committed 10 billion dollars, Europe did not announce the joint purchase of 3.2 billion euros. The first agreement was with Astra Zéneca (AZN) in August, also months after the US ”.

“The negotiation has been too focused on the price, ensuring the taxpayers’ spending and not so much the terms and conditions of supply. But the market prevails, and companies end up supplying the first countries to authorize and those that pay the most ”, indicates the researcher.

Scientific dissemination

The Conversation Spain it is the main channel for the dissemination of knowledge emanating from universities. The ULPGC joined this platform in February 2020, as sponsored by the CRUE-Spanish Universities. Researchers at the ULPGC have published more than 70 articles on this channel, in addition to an editorial by Rector Rafael Robaina on the collateral effects of covid-19, specifically on university management, in the bulletin that the platform publishes daily.

The Conversation has editions in the United States, United Kingdom, Canada, France, Indonesia and Africa, in addition to the Spanish edition, which was launched in the summer of 2018 and in just over a year has achieved more than 20 million readings. thanks to the republication of the articles in 170 media.


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