Black Friday is Now! Don’t miss out on up to 60% OFF InvestingProCLAIM SALE

Drugmakers in Davos shift focus to chronic diseases of poor

Published 18/01/2017, 05:09
© Reuters. CEO Schwan of Swiss drugmaker Roche addresses news conference in Basel
MRK
-
SASY
-
PFE
-

By Ben Hirschler

DAVOS, Switzerland (Reuters) - Two decades after they were spurred into action to tackle AIDS in Africa, global drugmakers said on Wednesday they would invest $50 million (40.5 million pounds) over three years to fight cancer and other non-communicable diseases in poor countries.

Twenty-two companies, including Pfizer (NYSE:PFE), Merck (NYSE:MRK), Novartis, Roche, Sanofi (PA:SASY) and GlaxoSmithKline, will contribute funds and expertise to the project, which is backed by the World Bank.

The so-called Access Accelerated initiative was announced at the World Economic Forum in Davos and aims to improve both treatment and prevention.

In the past, the focus of healthcare in poorer parts of the world has been on fighting infectious diseases, whether through vaccinations, drug programmes or the roll-out of anti-malarial bednets.

Today, however, the healthcare burden is shifting as deaths from these conditions decline and people in increasingly urbanised populations succumb to diseases such as cancer, diabetes, and heart and lung disorders fuelled by Western lifestyles.

Such non-communicable diseases (NCDs) are responsible for nearly 70 percent of all deaths worldwide and almost three quarters of them occur in low- and middle-income countries, according to the World Health Organization.

Severin Schwan, the chief executive of Roche, the world's largest maker of cancer drugs, said his company and others were already implementing preferential pricing for the developing world but cost was only one obstacle.

Countries in Africa, Asia and Latin America also need improved healthcare systems if patients are to benefit from the latest developments in medicine.

"It has a lot to do with hospital infrastructure. You can't administer modern cancer medicines if you don't have sophisticated lab facilities," he told Reuters. "We're going to institutionalise cooperation in this area."

© Reuters. CEO Schwan of Swiss drugmaker Roche addresses news conference in Basel

Cancer is the initial focus and drug companies will work with the Union for International Cancer Control to test out new diagnostics and treatments in several cities around the world on a pilot basis.

Latest comments

Risk Disclosure: Trading in financial instruments and/or cryptocurrencies involves high risks including the risk of losing some, or all, of your investment amount, and may not be suitable for all investors. Prices of cryptocurrencies are extremely volatile and may be affected by external factors such as financial, regulatory or political events. Trading on margin increases the financial risks.
Before deciding to trade in financial instrument or cryptocurrencies you should be fully informed of the risks and costs associated with trading the financial markets, carefully consider your investment objectives, level of experience, and risk appetite, and seek professional advice where needed.
Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. The data and prices on the website are not necessarily provided by any market or exchange, but may be provided by market makers, and so prices may not be accurate and may differ from the actual price at any given market, meaning prices are indicative and not appropriate for trading purposes. Fusion Media and any provider of the data contained in this website will not accept liability for any loss or damage as a result of your trading, or your reliance on the information contained within this website.
It is prohibited to use, store, reproduce, display, modify, transmit or distribute the data contained in this website without the explicit prior written permission of Fusion Media and/or the data provider. All intellectual property rights are reserved by the providers and/or the exchange providing the data contained in this website.
Fusion Media may be compensated by the advertisers that appear on the website, based on your interaction with the advertisements or advertisers.
© 2007-2024 - Fusion Media Limited. All Rights Reserved.