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Full Text of this Amendment
On page 410, between lines 15 and 16, insert the following:
SEC. 699B. ADVANCE MARKET COMMITMENTS.
(a) Purpose.--The purpose of this section is to improve global health by creating a competitive market for future vaccines through advance market commitments.
(b) Authority to Negotiate.--
(1) IN GENERAL.--The Secretary of the Treasury should enter into negotiations with the appropriate officials of the International Bank for Reconstruction and Development, the International Development Association, and the Global Alliance for Vaccines and Immunization, the member nations of such entities, and other interested parties for the purpose of establishing advance market commitments to purchase vaccines and microbicides to combat neglected diseases.
(2) REPORT.--Not later than 180 days after the date of the enactment of this Act, the Secretary shall submit a report on the status of the negotiations to create advance market commitments under this section to--
(A) the Committee on Appropriations of the Senate;
(B) the Committee on Foreign Relations of the Senate;
(C) the Committee on Appropriations of the House of Representatives;
(D) the Committee on Foreign Affairs of the House of Representatives; and
(E) the Committee on Financial Services of the House of Representatives.
(c) Requirements.--The Secretary of the Treasury should work with the entities referred to in subsection (b) to ensure that--
(1) there is an international framework for the establishment and implementation of advance market commitments; and
(2) such commitments include--
(A) legally binding contracts for product purchase that include a fair market price for a guaranteed number of treatments to ensure that the market incentive is sufficient;
(B) clearly defined and transparent rules of competition for qualified developers and suppliers of the product;
(C) clearly defined requirements for eligible vaccines to ensure that they are safe and effective;
(D) dispute settlement mechanisms; and
(E) sufficient flexibility to enable the contracts to be adjusted in accord with new information related to projected market size and other factors while still maintaining the purchase commitment at a fair price.
(d) Authorization of Appropriations.--
(1) IN GENERAL.--There are authorized to be appropriated such sums as may be necessary for each of fiscal years 2009 through 2014 to fund an advance market commitment pilot program for pneumococcal vaccines.
(2) AVAILABILITY.--Amounts appropriated pursuant to this subsection shall remain available until expended without fiscal year limitation.
(As printed in the Congressional Record for the Senate on Sep 6, 2007.)