Home Business & Finance Nestlé supports global CEPI alliance with CHF 1 million for COVID-19 vaccine search

Nestlé supports global CEPI alliance with CHF 1 million for COVID-19 vaccine search


News Desk

ABU DHABI: A vaccine against COVID-19 is crucial to end the pandemic and to save lives and livelihoods. The Coalition for Epidemic Preparedness Innovations (CEPI) is playing an important role in funding and speeding up the development of COVID-19 vaccine candidates on a global basis. That is why Nestlé has today announced that it will support CEPI’s efforts with a donation of CHF 1 million (US $1.03 million).

CEPI is working quickly and collaboratively with the ambition to develop a safe, effective and globally accessible COVID-19 vaccine within a 12-18-month timeframe. They have already raised over US $1 billion from governments, private donors and individuals around the world but need further funding to reach their goal of US $2 billon to allow their COVID-19 programmes to continue at pace.

Mark Schneider, CEO of Nestlé, said: “The COVID-19 pandemic has created a lot of pain and hardship in communities around the world. A safe and effective vaccine will be needed to return to normality. That is why it was important to us to get on board when CEPI issued their call. We hope others will join us and support this important mission.”

CEPI is an innovative global partnership between public, private, philanthropic, and civil society organizations launched in Davos in 2017 to develop vaccines to stop future epidemics.

Dr Richard Hatchett, CEO of CEPI, said: “It will take a monumental effort to tackle this virus, but through global cooperation and financial contributions towards the COVID-19 response, businesses can play their part in helping to change the course of this devastating pandemic.

We are grateful for Nestlé’s leadership in supporting our efforts to rapidly develop a safe, effective and globally accessible vaccine against COVID-19. At this pivotal moment in time, we call on other businesses to follow Nestlé’s initiative and provide the vital support necessary to get our lives, society and economies back on track.”

Nestlé would like to thank Economiesuisse and the Swiss American Chamber of Commerce, who are supporting CEPI’s donation drive in Switzerland.

Read more on Nestlé’s response to COVID-19.

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