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Symposium 2009

Solution for Fighting Against Poverty in the Crisis Aftermath

The Challenge

Poverty reduction has become the central objective of development policy, as reflected in the United Nations’ Millennium Development Goals (MDGs). While economic growth is seen as an important ing ...

Poverty reduction has become the central objective of development policy, as reflected in the United Nations’ Millennium Development Goals (MDGs). While economic growth is seen as an important ingredient in achieving sustainable poverty reduction, the emerging consensus is that growth has to be pro-poor to reach such ambitious targets as the MDGs.

Provide inducements for pharmaceutical companies to invest in the health of poor countries.

At present, 90% of global health investments benefit only 10% of the planet. Pharmaceutical companies are still not investing enough into researching and developing medicines for diseases that predominantly affect poor people in developing countries. More than 85% of world consumers are underserved or have no access to its medicines. This is bad for the industry and bad for poor people, who are still facing devastating diseases like malaria, tuberculosis, asthma, cancer, and HIV/AIDS without affordable medicines.

Overcoming the gap requires a change in the mindset of pharmaceutical companies to innovate and invest more in untapped markets. Providing policy inducements to invest more in these markets would benefit multinational pharmaceutical companies as well, as they could create substantial efficiencies through investing in fighting diseases that affect people in developing countries.

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