Bringing new medicines becomes necessity as because of drugs are very expensive, and becoming ever more so. There is need to be working towards this as a matter of urgency.
The world’s most developed economies and healthcare systems are struggling to afford vital medicines. To keep paying more for drugs simply cannot be the answer. Bad health affects everyone. We should be urgently seeking new mechanisms of funding medical innovation that do not compromise on access.
Millions of people globally do not have access to the medicines they need to survive. In the United States, millions of adults skip prescribed medications due to the high cost. The same is true in Canada.
The drugs used for treating hepatitis C cost the equivalent of one or more years’ average earnings in 12 out of 30 countries, revealed by the World Health Organization. Millions are dying because they cannot afford the medicine they need to stay alive.
The increased morbidity caused by a lack of access to medication damages healthcare systems. In addition, unhealthy populations are far less economically productive than healthy ones. Beyond social justice, there are clear economic reasons to find new models of funding medical innovation that do not restrict access to medicine.
There is need to fund research and production separately. There is lack of transparency. It is often not known how much is spent on what and how reliant private-sector developments are on publicly funded research.