Sustaining Affordable Vaccines

Developing affordable vaccines against diseases that affect low-income countries has not historically been a sustainable enterprise. Yet after an initial investment, Merck & Co. Inc. and The Wellcome Trust expect their new not-for-profit vaccines JV to become self-sustaining via third-party grants, revenue streams from future partnerships, and the potential to capitalize on the value of Priority Review vouchers available in the U.S.

Earlier this month, Merck and Wellcome launched the MSD Wellcome Trust Hilleman Laboratories, an independent R&D joint venture based in India. The partners each will invest £45 million ($74.4 million) over seven years...