The Economist Event – Antimicrobial Resistance, Preventing antibiotic apocalypse
26 March 2019
11:50 to 12:30
20 Tavistock Square, Bloomsbury, London WC1H 9HW
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The world is facing an imminent crisis of antimicrobial resistance (AMR). A growing range of disease-causing bacteria are proving difficult to treat; some are no longer treatable, even with the last line of antibiotic defences. In a classic case of market failure, ageing antibiotics that are increasingly less effective are not being replaced by new ones. Meanwhile, resistance is accelerating through the misuse and abuse of antibiotics—in humans, animals and the environment.
The Antimicrobial Resistance Summit asks why the global call to action on such a critical public good is now sputtering, and how renewed energy and momentum might be unlocked in the global fight against AMR. We ask how new voices can help broaden the AMR cause—from responsible investment and retailing to environmental groups and a wider universe of advocates. We ask for action.
Nina Grundmann, Head of AMR Policy and Advocacy and Lead for Strategic Planning, IFPMA, will share the biopharmaceutical industry’s perspective during the panel “The Private Sector investement conundrum”.
If new classes of antibiotics are to be used sparingly or squirrelled away for last use, why invest in their development? This conundrum – in which the old model of volume-based reimbursement is failing – sits at the heart of why pharma companies are no longer interested in investing in antibiotics, and why the pipeline is so weak. Several initiatives have sought to identify “pull” incentives that will reward successful R&D outcomes and thereby persuade pharma to re-engage in drug development. So far, industry remains unconvinced, and governments are reluctant. Yet solving this market failure is a matter of urgency. What incentives show the most potential, and can they be made to work?