Market-Entry Reward Co-Financed By Government, Private Sector Could Incentivize Antibiotic R&D
Project Syndicate: An Earnest Proposal for Tackling AMR
Jim O’Neill, chair of Chatham House
“…[I]t is time for the U.K. to join with pharmaceutical companies in piloting a new model of finance for investment in research and development of new antibiotics. … [W]hen the right conditions are put in place, there can indeed be a market for developing new antibiotics. Better yet, we still have other ways to strengthen incentives. … There are now a number of academic studies showing that a $1 billion annual prize could bring a host of new antibiotics down the pipeline in the coming years. … [N]ow is the time to introduce a market-entry reward. … Assuming that everyone is on board, I would propose that instead of expecting the government to put up the whole $1 billion for a market-entry reward — and in order to avoid inviting a revocation of industry-friendly regulations — British pharmaceutical companies should come together to contribute 50 percent. Imagine how encouraging it would be to see industry leaders standing next to the prime minister to announce the roll-out of a jointly financed award for the creation of life-saving antibiotics…” (11/2).