Gates Foundation Invests 140 Billion KRW in Generic Oral COVID-19 Treatment

"Support Supply to Poor Countries Upon FDA Approval"
820,000 KRW per Set, Concerns Over Wealthy Countries Sweeping Up

[Image source=Reuters Yonhap News]

[Asia Economy Reporter Cho Hyun-ui] The Bill Gates, founder of Microsoft (MS), and his ex-wife's established world's largest private charitable foundation will invest $120 million (approximately 140 billion KRW) in generic versions of the COVID-19 oral antiviral treatment (Molnupiravir) developed by the U.S. pharmaceutical company Merck.

The Bill & Melinda Gates Foundation announced on the 21st (local time) that "if Molnupiravir receives approval from the U.S. Food and Drug Administration (FDA), we plan to invest so that low-income countries can access it," according to ABC News.

The foundation stated, "Although we have not yet decided exactly how the investment funds will be used, they are expected to support various activities related to the development and production of generic drugs."

Merck's COVID-19 Pill Treatment Molnupiravir
[Image Source=Yonhap News]

Merck has already signed production technology agreements for Molnupiravir with Indian generic drug manufacturers. The plan is to supply the produced treatment to India and more than 100 low- and middle-income countries.

Lever Mundell, head of the Gates Foundation Global Health Program, said, "Generic drug manufacturers will not expand production facilities or start production until next year unless they know there is demand. This funding is to make them act immediately."

Molnupiravir is known to cost over 800,000 KRW per treatment course, raising concerns that, following vaccines, a rich-poor gap between countries may also appear in access to treatments. According to foreign media, the U.S. agreed to purchase one treatment course, which consists of 40 capsules (4 capsules taken twice daily for five days), for $700 (approximately 820,000 KRW).

Maria Angela Simao, WHO Assistant Director-General, said, "The biggest concern is the 'treatment hoarding' by wealthy countries."