Activists’ single-minded focus on price could backfire, says International Federation of Pharmaceutical Manufacturers and Associations
The International Federation of Pharmaceutical Manufacturers and Associations says health activists’ call last week for greater transparency on medicine prices could backfire, and drive up drug costs in low and middle-income countries.
“Price transparency potentially risks price convergence, which would mean some countries would pay rather more [than they do at present]”, said IFPMA director-general Thomas Cueni in a phone interview with Business Day this week. Cueni said the industry clearly needs to reflect on these calls for transparency, but the costs of R&D are difficult to tease out on a product-by-product basis. “Industry always has a portfolio approach: 97% of Alzheimer’s drugs failed — how do you account for that?”
Cueni added that he was struck by activists’ “single-minded focus on price” and the meeting’s hostile tone towards the pharmaceutical industry.
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