Financial Daily from THE HINDU group of publications
Saturday, Nov 22, 2003
Financial Daily from THE HINDU group of publications Saturday, Nov 22, 2003 |
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Industry & Economy
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Health Clinton Foundation pledges full support to fight AIDS Our Bureau
The former US President, Mr Bill Clinton, with the Ranbaxy Managing Director and CEO, Mr D. S. Brar, addressing a press conference at Gurgaon on Friday. — Ramesh Sharma
New Delhi , Nov. 21 THE former President of the US, Mr Bill Clinton, today reiterated his Foundation's commitment to fight AIDS/HIV when he visited the research and development premises of Ranbaxy Laboratories Ltd. Only recently, the Clinton Foundation had negotiated with four Indian pharmaceutical majors - Matrix Laboratories, Cipla, Ranbaxy and Hetero Drugs to produce cheaper drugs to combat AIDS/HIV. This will be made possible by the William J. Clinton Foundation, which will offer a large assured market and hence economy of scale. "The companies have agreed to go in for lower profit on each dose and to look for higher volumes by tying up with the Clinton Foundation's AIDS initiative," Mr Clinton said today at a press conference. "There are 6 million people in the world who need medication for HIV/AIDS, of whom only about 3,00,000 are getting anti-retroviral drugs." The Foundation has tied up with the several nations including South Africa, Mozambique, Rwanda, Tanzania and Bahamas. According to Mr Clinton, the initiative will make HIV drugs available at a cost of $139 a year. Speaking on the occasion, Ranbaxy's Chief Executive Officer and Managing Director, Mr D.S. Brar, said that it was a `chicken-and-egg' story on the pricing of drugs to combat the dreaded disease. "The drugs can be priced at a lower price only if there are volumes and for that the large AIDS-inflicted nations have to come forward and purchase in bulk. This was not happening till the Clinton Foundation stepped into the picture and brought together the nations and the producers of the drugs," he said. According to Mr Ira Magaziner, head of the Clinton Foundation's HIV/AIDS initiative, the agreement with the companies will make HIV/AIDS drugs affordable and accessible to 2 million people in Africa and the Caribbean.
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