Sarah Bennett
In March 2020, there were reports that the Trump administration had attempted to buy exclusive rights to a coronavirus vaccine being developed by German company CureVac. German Health Ministry sources claimed that large sums of money had been offered to the company, which also has sites in Frankfurt and Boston, in an attempt to relocate its research wing to the United States. CureVac, however, denied receiving any such offer from the Trump administration, stating that there was no offer to take over the company or secure exclusive rights to the vaccine.
| Characteristics | Values |
|---|---|
| Name of the company | CureVac |
| Location of the company | Tübingen, Germany |
| Owner of the company | Dietmar Hopp |
| Other sites of the company | Frankfurt, Germany and Boston, US |
| Name of the newspaper that first reported the news | Die Welt am Sonntag |
| Amount offered by Trump | $1 billion |
| Response of the German government | Condemnation and offering financial incentives to CureVac to remain in Germany |
| Response of CureVac | Denial of any offer from Trump |
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What You'll Learn
CureVac CEO Daniel Menichella met with Trump
Following this meeting, reports emerged that the Trump administration had attempted to buy exclusive rights to a potential coronavirus vaccine being developed by CureVac. German newspaper Die Welt am Sonntag reported an offer of approximately $1 billion, quoting an unnamed German government source.
However, CureVac denied receiving any offer from Trump to secure exclusive rights to their vaccine. Deputy CEO Franz-Werner Haas stated that there was "no offer" from Trump or any governmental organizations to take over the company or reserve manufacturing slots for exclusive US production. Despite the denial, Haas did not address why senior German ministers and the company's main investor, Dietmar Hopp, confirmed and condemned such a bid.
The controversy surrounding Trump's interest in CureVac had implications for the company's leadership. Shortly after the meeting, Menichella was replaced by Ingmar Hoerr, one of the company's founders. Von Bohlen, a member of CureVac's supervisory board, claimed that the decision to replace Menichella was mutual and unrelated to the Trump meeting. He attributed the change to Hoerr's biotechnology expertise, which could be valuable in addressing the coronavirus crisis.
The situation highlighted the importance of vaccine development sovereignty for Germany and Europe. The German Health Ministry expressed interest in ensuring vaccines were developed within Germany and Europe, and the European Commission provided CureVac with an €80 million loan to scale up vaccine development and production in Europe.
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Trump offered large sums of money
In March 2020, the Trump administration was accused of offering large sums of money to secure exclusive rights to a potential coronavirus vaccine being developed by the German company CureVac. CureVac, a Tübingen-based biopharmaceutical company with sites in Frankfurt and Boston, was working on the vaccine in cooperation with a taxpayer-funded German institute.
According to German newspaper Die Welt am Sonntag, the offer amounted to roughly $1 billion for the potential vaccine, with an unnamed German government source claiming that Trump wanted the vaccine exclusively for the United States. This allegation was supported by statements made by senior German officials, including Chancellor Angela Merkel, who told reporters that the German government had dealt with Trump's reported takeover attempt. Dietmar Hopp, CureVac's main investor, also confirmed the bid, stating that Trump had spoken to the company and that exclusive access for the US was "out of the question."
However, CureVac denied receiving any offer from Trump or any governmental organizations to take over the company or secure exclusive rights to the vaccine. During a one-hour news conference, the company's deputy CEO, Franz-Werner Haas, failed to explain why German ministers and the company's main investor had confirmed such a bid. He emphasized that there was no offer and that CureVac was committed to developing a vaccine to help people globally.
The controversy surrounding Trump's alleged attempt to buy exclusive rights to CureVac's vaccine highlighted the importance of ensuring equitable access to critical vaccines during a global health crisis. It also raised questions about the ethics of allowing financial interests to dictate the distribution of life-saving treatments. As a result, the German government offered CureVac financial incentives to remain in the country and continue its vital work.
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Hopp denied the offer
In March 2020, the Trump administration was accused of attempting to buy exclusive rights to a potential coronavirus vaccine being developed by the German company CureVac. The offer allegedly came after CureVac's then-CEO Daniel Menichella met with Trump, Vice President Mike Pence, and other pharmaceutical representatives at the White House. German newspaper Die Welt am Sonntag reported an offer of approximately $1 billion for the potential vaccine, citing an unnamed German government source.
However, CureVac and its representatives firmly denied receiving any such offer from the Trump administration. Deputy CEO Franz-Werner Haas stated that there was "no offer from Trump or any governmental organizations" to take over the company or secure exclusive rights to the vaccine. He reiterated that CureVac was not for sale and that they were committed to developing the vaccine for global use. During a press conference, Haas failed to address why senior German ministers and the company's main investor, Dietmar Hopp, had indicated otherwise.
Dietmar Hopp, CureVac's main investor, played a pivotal role in denying the offer. In an interview with Sport1, Hopp asserted that it was out of the question for a German company to develop a vaccine exclusively for the United States. He emphasized that he was immediately informed about Trump's approach and that he knew such an arrangement would not be acceptable. Hopp's stance aligned with that of German Chancellor Angela Merkel, who stated that her government had addressed Trump's reported takeover attempt.
Hopp's denial of the offer highlights the ethical considerations in the development and distribution of a vaccine during a global health crisis. His insistence on global access to the vaccine underscored the importance of equitable solutions in the face of a pandemic. While the Trump administration's motivations may have been driven by a desire to prioritize the health and safety of its citizens, Hopp's stance reflected a broader commitment to international cooperation and fairness.
The incident surrounding the alleged offer and subsequent denial sparked discussions about the role of governments and private companies in vaccine development. It also brought attention to the complex dynamics between national interests and global solidarity in addressing a pandemic that transcends borders. The outcome of this particular incident remains unclear, but it serves as a reminder of the ethical dilemmas and challenges faced during the race to develop a coronavirus vaccine.
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German government condemned the bid
In March 2020, the Trump administration was accused of offering large sums of money to secure exclusive access to a coronavirus vaccine being developed by the German company CureVac, which had sites in Tübingen, Frankfurt, and Boston. The offer allegedly came after CureVac's CEO Daniel Menichella met with Trump, Vice President Mike Pence, and other pharmaceutical representatives at the White House.
Despite CureVac's denial of any such offer, the incident sparked a strong reaction from the German government. Senior German ministers, including Chancellor Angela Merkel, confirmed and condemned the bid. Merkel stated that the German government had dealt with Trump's reported takeover attempt early on and that the issue had been resolved.
Government sources indicated that Berlin was offering CureVac financial incentives to remain in Germany and develop the vaccine locally. This response highlighted the importance of ensuring that vaccines and treatments for the novel coronavirus were accessible within Germany and Europe.
The incident caused a stir in the media and among public health experts, who questioned the ethics of exclusive vaccine rights for a single country. It also raised concerns about the potential impact on global efforts to combat the COVID-19 pandemic.
While CureVac insisted that no offer had been made, the company benefited from increased funding following the reports. The European Commission announced that CureVac would receive an €80 million loan to scale up vaccine development and production in Europe.
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CureVac received an €80 million loan from the European Commission
The Donald Trump administration offered large sums of money to gain exclusive access to a coronavirus vaccine being developed by a German company, CureVac. The Trump administration's attempt to take over CureVac sparked a backlash in Berlin. In response, the European Commission offered CureVac up to €80 million in financial support to scale up development and production of a coronavirus vaccine in Europe.
CureVac is a clinical-stage biopharmaceutical company headquartered in Tübingen, Germany, with sites in Frankfurt and Boston, USA. The company focuses on developing a new class of transformative medicines based on optimised mRNA technology. CureVac has over 20 years of expertise in developing and optimising the versatile molecule for medical purposes. The company uses mRNA as a data carrier to instruct the human body to produce its own proteins capable of fighting a wide range of diseases. CureVac's proprietary technology has applications in cancer therapies, antibody therapies, the treatment of rare diseases, and prophylactic vaccines.
The €80 million loan from the European Commission to CureVac was facilitated by the Infectious Diseases Finance Facility (IDFF) of the EU's Horizon 2020 programme. The IDFF is a joint initiative of the European Commission and the European Investment Bank (EIB) that aims to support the fight against infectious diseases. Through the IDFF, the EIB has provided funding to 13 companies, totalling €316 million for developing cures, vaccines, and diagnostics against various infectious diseases, with a focus on the coronavirus.
The EIB loan to CureVac supports the company's efforts to complete its new messenger ribonucleic acid (mRNA) production facility in Tübingen, Germany. The loan finances clinical trials, market access, prototype development, industrial roll-out of novel equipment, pre-clinical R&D, and working capital needs. The funding enables CureVac to further invest in its mRNA technology platform and develop a safe and effective low-dose mRNA vaccine against SARS-CoV-2.
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Frequently asked questions
There were reports that the Trump administration tried to buy exclusive rights to a potential coronavirus vaccine from the German company CureVac. However, CureVac and its deputy CEO Franz-Werner Haas denied receiving any such offer.
Senior German ministers confirmed and strongly condemned the alleged bid. The German government offered CureVac financial incentives to remain in the country.
Dietmar Hopp, CureVac's main investor, said that the idea of a German company developing a vaccine for exclusive use in the U.S. was "out of the question".
No. However, the administration invited CureVac CEO Daniel Menichella to the White House to discuss coronavirus vaccine development.
Yes. Reports about Trump's interest in CureVac benefited the company's funding. On Monday following the reports, the European Commission announced that CureVac would receive an €80 million loan to scale up vaccine development and production.
