A spokesman for the US Department of Health and an official in the administration of US President Joe Biden said that the US government plans to spend more than $ 5 billion in an effort to accelerate efforts to develop new vaccines and medicines for COVID-19.
The investment dubbed the “Next Generation Project” and first announced by White House and Health Department officials in an interview with The Washington Post, aims to better protect against coronaviruses that could pose a threat in the future, including the virus that causes COVID-19.
“While our vaccines are still highly effective in preventing serious illness and death, they are less able to reduce infections and transmission over time,” a health ministry spokesman said on Monday.
“New variants and immune loss over time may continue to challenge our healthcare systems in the coming years.”
President Joe Biden’s administration plans to spend at least $5 billion in concert with the private sector in a move similar to the “Operation Maximum Speed” project led under former President Donald Trump to accelerate vaccine development and distribution in 2020.
“The Next Generation Project will accelerate the development of the next generation of vaccines and medicines through concerted efforts between the public and private sectors,” the Biden administration official said.
“At least $5 billion will help spur scientific advances in areas that have significant public health benefits for the American people to develop safe and effective tools for the American people.”