An advance market commitment is binding contract, typically offered by a government or other financial entity, used to guarantee a viable market if a vaccine or other medicine is successfully developed. As a result of such a commitment, the market for vaccines or drugs for neglected diseases would be comparable in size and certainty to the market for medicines for rich countries. This would enable biotech and pharmaceutical companies to invest in the development of new vaccines to tackle the world’s most pressing health problems, in the normal course of their business decisions.
External links
Global Alliance for Vaccines and Immunization (GAVI) (http://www.vaccinealliance.org)
International AIDS Vaccine Initiative (IAVI) (http://www.iavi.org)
In interest rate futures markets, it refers to the differential between the yield on a cash instrument and the cost of funds necessary to buy the instrument.
The crop marketing year varies slightly with each ag commodity, but it tends to begin at harvest and end before the next year's harvest, e.g., the marketing year for soybeans begins September 1 and ends August 31.
Market Order: An order to buy or sell a futures contract of a given delivery month to be filled at the best possible price and as soon as possible.
AdvanceMarketCommitments: A Policy to Stimulate Investment in Vaccines for Neglected Diseases
Owen Barder, Michael Kremer and Heidi Williams advocate a proposal--Advance Market Commitments--that the G8 finance ministers plan to pilot in 2006.
Owen Barder, Michael Kremer, and Heidi Williams (2006) "AdvanceMarketCommitments: A Policy to Stimulate Investment in Vaccines for Neglected Diseases," The Economists' Voice: Vol.
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