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Should vaccines be considered ‘global public goods’?

The Daily Star newspaper recently announced on its front page, "COVID Vaccines. One Lakh Pfizer Shots to Arrive Next Month" (May 19, 2021). This news obviously comes at a good time for Bangladesh as it struggles to find more vaccines for the nation of 160 million people. As is well-known, Bangladesh and Beximco Pharmaceuticals Ltd had signed a deal last year with the Serum Institute of India (SII) to procure 30 million shots of the Oxford-AstraZeneca vaccine, but SII halted delivery of these doses after providing only 10.2 million units, because of its high domestic demand amid severe Covid-19 infections in India.

A legitimate question to ask: Why couldn't have Bangladesh procured millions more of these life-saving jabs from other countries or in the open market to meet its growing demand? A related question is, if Bangladesh, India, South Africa and other developing nations have installed but idle pharmaceutical manufacturing facilities, what is preventing them from mass-producing vaccines created by Pfizer, Moderna, or AstraZeneca, and why do they have to wait for months to get a response from COVAX on this matter?

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