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The Bill & Melinda Gates Foundation, Wellcome Trust and Novo Nordisk Foundation joined forces on Monday to tackle some of the world’s most pressing health issues. The initiative is a collaboration between three of the largest philanthropic companies to leverage advances in science and technology while providing funding. And interest in global health is declining among governments.
The Ozempic injection pen is manufactured by Novo Nordisk, which is partly owned by the Novo Nordisk Foundation.
important facts
The group announced at the Novo Nordisk Foundation’s Global Science Summit in Denmark that the $300 million partnership will support scientific research and development to address global health issues.
The three will each contribute equally to the project, each contributing $100 million, and funding will initially last for three years, the statement said.
The project will initially fund research and solutions that address three major global health challenges that disproportionately impact the world’s poorest people. Infectious diseases and antimicrobial resistance. Gain a deeper understanding of the interactions between nutrition, immunity, disease, and development.
The organization notes that while innovation has accelerated in recent years through new technologies and scientific advances, and through collective action to help eradicate disease and improve lives, “funding and interest in global health and development have stagnated.” That progress is now at risk, he said.
“By bringing together the rich experience and unique expertise of each organization… we can make progress that would not be possible otherwise,” said Novo Nordisk Foundation CEO Mads Krogsgaard Thomsen. , we are excited about the opportunity to break down barriers between many organizations.” isolated work area. ”
According to the statement, the fund will directly support researchers and institutions in low- and moderate-income settings, facilitating access to existing tools and technologies, strengthening research and development capacity, and “developing locally relevant research questions.” It also includes funds to promote the
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important quotes
“The solution starts with science,” said John Arne Rottingen, CEO of Wellcome. “In today’s complex world, health challenges increasingly overlap,” Rottingen said, meaning solutions require global cooperation. By partnering with Gates and Novo, “we will increase our ambition and find new ways to combine our resources and networks to advance global health research, especially for those who need it most.” “We can do that,” he said.
Points to note
The trio hinted that further collaborations may be on the horizon. The companies said in a statement that they would “explore opportunities” to further the objectives of the partnership. This includes working with other charities and public and private sector partners. “Every sector has an important role to play, and this collaboration will enable other funders and partners to help scale up existing innovations and build the tools of tomorrow,” said Mark Suzman, CEO of the Gates Foundation. I hope that this will open the door for me to contribute to the development of
Main background
The Wellcome Trust, Gates Foundation, and Novo Nordisk Foundation are among the world’s largest philanthropic foundations, and all are giants in health funding and philanthropy. Their contributions and influence are so great that they rival those of national governments, and while much of their work is praised, their chosen funding distorts global health priorities and has been accused of distorting it. Much of the Gates Foundation’s wealth comes from large donations from its namesakes, Bill and Melinda Gates, who co-founded technology giant Microsoft, and billionaire Warren Buffett. Meanwhile, Novo and Wellcome’s fortunes are rooted in the pharmaceutical sector. While the Wellcome and Gates Foundations are well known in public health and medical research communities around the world, the Novo Nordisk Foundation was until recently less well known. The foundation is the controlling shareholder in Danish pharmaceutical giant Novo Nordisk of the same name and holds a significant stake in it. The spectacular success of his GLP-1 diabetes and obesity drugs Ozempic and Wigovy, manufactured and marketed by Novo Nordisk, has skyrocketed the value of the company and its foundation’s assets.
tangent
Governments around the world are cutting budgets in response to soaring inflation and various debt crises. These cuts, which include areas such as foreign aid, medical research and health, threaten to devastate efforts to address global health problems. For example, the World Health Organization played a critical role during the COVID-19 pandemic and other health emergencies, but relies on external funding. This leaves them vulnerable to the whims of leaders who think more locally, such as former President Donald Trump, who withdrew U.S. funding during the coronavirus pandemic. Bill Gates provides another example of collective will wavering in the face of global challenges. The billionaire recently warned that polio eradication, to which the Gates Foundation is pouring billions of dollars, is not a guarantee, adding that the Global Polio Eradication Initiative has a budget of $1.2 billion by 2026.
Forbes rating
We estimate Bill Gates’ net worth to be $128 billion, making him the 9th richest person on the planet. His ex-wife, Melinda French Gates, who co-chairs the foundation, is worth $11.1 billion.
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