EU Pandemic Agency to Allocate Risk Capital to Pharmaceutical Firms for Future Health Crises, Suggests Habeck
The co-chair of the Greens, Robert Habeck, has called for the urgent establishment of the EU coordination center for pandemics, HERA. Habeck's appeal comes as he emphasises the need for an organised interface in the area of healthcare, with HERA potentially filling this role.
Habeck cited the US agency for biomedical research and development (BARDA) as an example of success in pandemic response. BARDA's achievements are attributed to American corporations investing in production facilities for vaccines and drugs before the production of an effective vaccine was certain. This intervention in areas where market fears risk encouraged investment, even when pandemics and other emergencies are not typically profitable investments for large pharmaceutical companies.
The head of the European Commission, Ursula von der Leyen, has been mentioned by Habeck in relation to the creation of HERA. Habeck has urged von der Leyen to quickly establish the coordination center and ensure it is adequately funded.
The role of HERA in distributing risk capital to research-based pharmaceutical companies is a call to action from Habeck. If established and funded appropriately, HERA could act as a risk capital provider, similar to BARDA. This could accelerate the development and production of vaccines and drugs in response to future pandemics.
The success of BARDA in the US is being used as a model for HERA's potential role in Europe. By providing risk capital to pharmaceutical companies, HERA could encourage investment in research and production facilities, even when the market is hesitant due to the uncertain nature of pandemics. This proactive approach could prove crucial in the fight against future health crises.
In conclusion, Habeck's call to action for the establishment of HERA is driven by the need for an organised interface in healthcare and the success of BARDA in the US. By emulating BARDA's approach, HERA could provide much-needed risk capital to pharmaceutical companies, accelerating the development and production of vaccines and drugs in response to future pandemics.
