G7 to Sign $1.5 Billion Vaccine Pact

The Group of Seven (G7) industrialized nations plans to sign an agreement to provide $1.5 billion dollars to develop vaccines for diseases including HIV/AIDS, tuberculosis, and malaria that largely affect developing countries, reported Reuters on February 6, 2007. Under the program, donor countries will pledge to buy vaccines that are being developed at a preferential price when they are available. This would create a financial incentive for drug companies to develop vaccines for diseases that largely affect developing countries. The G7 group includes US, Japan, Germany, Britain, France, Italy, and Canada.