Monday, December 7, 18:00 CET (17:00, -1hr GMT)
What is the Health Impact Fund?
ASAP’s global health project seeks to blueprint a Health Impact Fund that, jointly supported by many countries, would invite innovators to register any new pharmaceutical for participation in ten consecutive annual payouts, each to be divided among registered products according to health gains achieved in the preceding year. With these reward payments enabling innovators to recoup their R&D expenses and to make competitive profits, the price of registered products is capped to merely covering their lowest feasible costs of manufacture and distribution.
Three main reasons for creating such a fund are forcefully illustrated by the ongoing COVID-19 pandemic: the Health Impact Fund would end neglect of the – most communicable – diseases of poverty, and greatly enhance knowledge about them, rendering our pharmaceutical industry much better prepared to confront emerging threats. It would encourage pharmaceutical innovator efforts to attack diseases at the population level, paying most for full eradication (while, under the current monopoly patent regime, disease eradication would choke off the innovator’s earnings). Finally, the Health Impact Fund would also end the exclusion of poor people worldwide from advanced pharmaceuticals by providing at-cost access to them while also strongly encouraging competent delivery even to remote and impoverished locations.
To learn more about this innovative initiative and how it is working to delink the price of drugs from the cost of research, join the HIF team as they explore and discuss the approach. Sign up – here