LONDON: The global vaccine group Gavi will buy 500,000 doses of Bavarian Nordic’s mpox vaccine, its first purchase of the shot to help battle an outbreak in parts of Africa, the group said on Wednesday.
In 2024, there have been more than 25,000 suspected mpox cases and 723 deaths in Africa, mainly in the Democratic Republic of Congo, according to the World Health Organization, which has declared the outbreak a global health emergency.
Gavi, a public-private alliance which co-funds vaccine purchases for low-income countries, said it will spend up to $50 million on the plan, which includes the transportation, delivery and costs of administering the vaccines. The doses are due to be delivered this year.
Around 3.6 million doses of mpox vaccine have already been pledged to the DRC by rich nations which have stockpiles, the World Health Organization has said, but only a small portion has arrived so far. The WHO approved the vaccine for use on Friday last week.
Gavi’s purchase, using a new facility set up after the COVID-19 pandemic to respond quickly to public health emergencies, could speed up the response in Congo and other affected countries.
Also on Wednesday, the Global Fund to Fight AIDS, Tuberculosis and Malaria said it would provide $9.5 million to support Congo with its emergency response at the request of the government there, including surveillance, laboratory systems and risk communication.
The price of the vaccine was not disclosed. Gavi’s $50 million investment would likely equate to less than around $100 per vaccine, because transportation and logistics are included in the total. The figure is lower than previous estimates of the cost.
Gavi chief executive Sania Nishtar said the priority was working with partners “to turn these vaccines into vaccinations as quickly and effectively as possible and, over time, to build a global vaccine stockpile.”
The deal will significantly increase the availability of mpox vaccine for African countries, Bavarian Nordic chief executive Paul Chaplin said. Last week, the company said it would push back some existing orders to 2025, based on US government contracts, to focus on market needs now.
Mpox, which spreads through close contact and typically causes flu-like symptoms and pus-filled lesions, has been a public health problem in parts of Africa for decades. But vaccines have never previously been available outside clinical trials in affected countries in Africa, even after a different strain of the virus spread globally in 2022 and high-income countries used vaccines to help stem the outbreak.
Gavi to buy 500,000 mpox vaccine doses from Bavarian Nordic
https://arab.news/wmpc3
Gavi to buy 500,000 mpox vaccine doses from Bavarian Nordic
- Gavi said it will spend up to $50 million on the plan, which includes the transportation, delivery and costs of administering the vaccines
- Around 3.6 million doses of mpox vaccine have already been pledged to the DRC by rich nations which have stockpiles, WHO has said
Britain needs ‘AI stress tests’ for financial services, lawmakers say
- Lawmakers urge AI-specific stress tests for financial firms
LONDON: Britain’s financial watchdogs are not doing enough to stop artificial intelligence from harming consumers or destabilising markets, a cross-party group of lawmakers said on Tuesday, urging regulators to move away from what it called a “wait and see” approach.
In a report on AI in financial services, the Treasury Committee said the Financial Conduct Authority and the Bank of England should start running AI-specific stress tests to help firms prepare for market shocks triggered by automated systems.
The committee also called on the FCA to publish detailed guidance by the end of 2026 on how consumer protection rules apply to AI, and on the extent to which senior managers should be expected to understand the systems they oversee.
“Based on the evidence I’ve seen, I do not feel confident that our financial system is prepared if there was a major AI-related incident and that is worrying,” committee chair Meg Hillier said in a statement.
TECHNOLOGY CARRIES ‘SIGNIFICANT RISKS’
A race among banks to adopt agentic AI, which unlike generative AI can make decisions and take autonomous action, runs new risks for retail customers, the FCA told Reuters late last year.
About three-quarters of UK financial firms now use AI. Companies are deploying the technology across core functions, from processing insurance claims to performing credit assessments.
While the report acknowledged the benefits of AI, it warned the technology also carried “significant risks” including opaque credit decisions, the potential exclusion of vulnerable consumers through algorithmic tailoring, fraud, and the spread of unregulated financial advice through AI chatbots.
Experts contributing to the report also highlighted threats to financial stability, pointing to the reliance on a small group of US tech giants for AI and cloud services. Some also noted that AI-driven trading systems may amplify herding behavior in markets, risking a financial crisis in a worst-case scenario.
An FCA spokesperson said the regulator welcomed the focus on AI and would review the report. The regulator has previously indicated it does not favor AI-specific rules due to the pace of technological change.
The BoE did not respond to a request for comment.
Hillier told Reuters that increasingly sophisticated forms of generative AI were influencing financial decisions. “If something has gone wrong in the system, that could have a very big impact on the consumer,” she said.
Separately, Britain’s finance ministry appointed Starling Bank CIO Harriet Rees and Lloyds Banking Group ‘s Rohit Dhawan as “AI Champions” to help steer AI adoption in financial services.
