Pfizer Foundation Invests in Global Health Investment Fund
The fund will finance global health technologies in low-income countries.
The Pfizer Foundation recently made a $5 million investment in a first-of-its-kind fund that will finance late-stage global health technologies that have the potential to save millions of lives in low-income countries.
The Global Health Investment Fund (GHIF) will help advance the most promising interventions to fight challenges such as malaria, tuberculosis, HIV/AIDS, and maternal and infant mortality in low-income countries.
The Pfizer Foundation’s investment is part of $94 million in initial financing for the social impact investment fund, which was structured by JPMorgan Chase & Co. and the Bill & Melinda Gates Foundation and is supported by institutional investors including International Finance Corporation, GlaxoSmithKline, Merck and Storebrand.
“We are proud to join an esteemed, diverse group of partners to further global health through this innovative funding source,” said Caroline Roan, President, The Pfizer Foundation. “The GHIF’s investments will expand access to health care, save lives, and foster new possibilities for communities of people that grow from improved health.”
With rising research and development costs outpacing charitable support, private sector financing is helping to fill the funding gaps for late-stage clinical trials and development expenses. The GHIF will invest in new drugs and vaccines, emerging diagnostic tools, child-friendly formulations of existing products, expanding manufacturing capacity, and other applications that will help bring affordable technologies to those most in need.
Garry Nicholson, President and General Manager, Oncology Business Unit (and a Pfizer Foundation board member), will represent the Pfizer Foundation on the GHIF’s Investor Advisory Committee, and Emilio Emini, Chief Scientific Officer, Vaccine Research, will serve on its Scientific Advisory Committee.