Initiative for Vaccine Research...
Highlights from a WHO document about the Initiative for Vaccine Research (pdf file):
The process of developing vaccines is complex, risky and lengthy: it usually takes more than 10 years to arrive at a fully licensed product. Moreover, the required investment both of capital and highly skilled expertise is substantial and, as a result, those who most need the vaccines are the least able to afford or develop them.
Even when an efficient vaccine is developed and licensed, R&D should not stop there. Implementation research... is a vital component of successful vaccine introduction.
Vaccines used today are the yield of decades of devoted effort, requiring not only excellence in research, but also managerial and funding commitment throughout the endeavor. The total cost of the R&D process for a single vaccine candidate is estimated at US $200 million to US $500 million... registration of a single vaccine requires the development of four to five independent vaccine candidates and a constant pipeline of potential new products.
Using the life-cycle approach applied to commercial vaccines, innovation and research into even better vaccines and vaccine delivery systems continue, for example towards improved manufacturing processes to reduce gradually the cost of a vaccine for the end user.