Drug Behemoths Toss $1 Billion Lifeline To Small Antibiotic Companies
The fund aims to help struggling startups survive a collapsing antibiotic market that has dramatically reduced the number of promising drugs.
The New York Times:
Drug Giants Create Fund To Bolster Struggling Antibiotic Start-Ups
Twenty of the world’s largest pharmaceutical companies on Thursday announced the creation of a $1 billion fund to buoy financially strapped biotech start-ups that are developing new antibiotics to treat the mounting number of drug-resistant infections responsible for hundreds of thousands of deaths each year. (Jacobs, 7/9)
CIDRAP:
New Pharma-Led Fund Aims To Boost Antibiotic Development
A coalition of more than 20 leading pharmaceutical companies today announced the launch of a new fund to provide financial incentives to boost antibiotic development efforts and help the smaller companies engaged in much of the research on new, innovative drugs to tackle antimicrobial resistance (AMR). (Dall, 7/9)
Stat:
Two Dozen Big Drug Makers Launch A $1 Billion Fund To Develop Antibiotics
In response to heightened concerns over antibiotic resistance, two dozen of the world’s largest pharmaceutical companies have formally launched a $1 billion for-profit venture fund to replenish the global medicine chest with novel treatments. The new Antimicrobial Action Fund will look to buy or invest in small antibiotic companies and their products, and will work with the World Health Organization and the European Investment Bank to identify promising prospects. (Silverman, 7/9)
In other pharmaceutical news —
CIDRAP:
Study: Baloxavir Prevents Spread Of Flu To Household Members
The antiviral drug baloxavir (Xofluza) prevented influenza in household contacts of infected patients, according to a study yesterday in the New England Journal of Medicine, but a US expert outlined several caveats about the findings. The multicenter randomized controlled trial assessed the prophylactic effectiveness of baloxavir over 10 days in 749 household members of index patients with flu during the 2018-19 season in Japan. Participants were given a single dose of either baloxavir or a placebo. (Beusekom, 7/9)
Stat:
Despite The Pandemic, Prices For Many Drugs Keep Rising
Despite the economic hardships the Covid-19 pandemic has created for many Americans, drug makers raised list prices on 42 brand-name medicines by an average of 3.5% this month, surpassing the number of price hikes taken by the pharmaceutical industry at this time a year ago. The price increases added to the average 6.8% price hikes that companies took on 857 brand-name and generic drugs between January and June, according to data compiled by GoodRx, which tracks prescription drug pricing and provides free coupons for discounts on medications. (Silverman, 7/9)
Modern Healthcare:
Buy American Rhetoric On Medical Supplies, Drugs Heats Up In Presidential Race
Both the Trump administration and presumptive Democratic nominee Joe Biden in recent days have ramped up rhetoric about onshoring production of medical supplies and certain drugs. The COVID-19 pandemic has laid bare the American healthcare system's dependence on foreign manufacturing. Many providers are hoping a push to onshore some production could result in a more stable, if more expensive, pipeline of supplies, while others believe that U.S. manufacturing isn't prepared for the transition. (Cohrs, 7/9)
