Uneven squeeze

Product development partnerships, change in total spending since 2022, %

Note: latest year available. TB Alliance and IAVI are US-registered and their 2025 tax filings are not yet public. IVCC years end in July, and its 2022 total included the final year of a $66m bed-net project funded by Unitaid and the Global Fund. Each in its own currency, not adjusted for inflation.
Sources: DNDi, MMV and IVCC annual accounts; IRS Form 990 filings via ProPublica

Change in total spending since 2022 at five product development partnerships
PartnershipPeriodChangeTotal spending by year (millions)
IVCC2022–25-64%FY2022: £47.5; FY2023: £32.3; FY2024: £20.2; FY2025: £17.3
DNDi2022–25-30%2022: €75.9; 2023: €66.9; 2024: €65.7; 2025: €52.9
MMV2022–25-4%2022: $89.1; 2023: $77.8; 2024: $80.3; 2025: $85.3
IAVI2022–24+9%2022: $131.2; 2023: $132.9; 2024: $143.0
TB Alliance2022–24+10%2022: $55.8; 2023: $55.4; 2024: $61.5