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...message may be getting through. Last month Merck and Bristol-Myers Squibb slashed the price offered to African countries for anti-AIDS "cocktails" to a fraction of what's charged in industrialized countries. One Bristol-Myers AIDS drug, Zerit, now costs just $54 a year in Africa; in the U.S., patients pay $3,589. This month, six other firms assured U.N. Secretary-General Kofi Annan they too would continue lowering prices. But at a conference in Norway last week with officials from the World Health Organization and World Trade Organization, some industry leaders resisted calls for further discounts. Said Bill...
...versions of a triple-drug anti-AIDS cocktail to Médecins sans Frontières for $600 a year per patient - $200 cheaper than the least expensive brand-name cocktail. "We are offering the drugs at a humanitarian price," says Cipla chairman Yusuf K. Hamied. GlaxoSmithKline and Bristol-Myers have threatened to sue Cipla; they fear that a flood of cheap imitations in Africa could create a global black market for AIDS drugs that could undercut prices in the developed world...
Galbraith says the opportunities are pretty widespread, but Bristol Myers Squibb and American Home Products are his favorites. Drug analyst Barbara Ryan of Deutsche Banc Alex. Brown concurs: she says estimates for Bristol's earnings are too low--she's penciling in 13% or 14% annually over the next three years. And now that the fen-phen fiasco is behind American Home, she says, the company can concentrate on drugs like Enbrel for rheumatoid arthritis...
Just last month, Bristol-Myers Squibb (BMS) announced that it would not seek to stop generic companies in Africa from producing copies of an anti-retroviral drug licensed to BMS by Yale University...
...gestures on the parts of Merck and Bristol-Meyers are certainly steps in the right direction, but there must be further action to confront this deadly crisis. We urge governments in developed countries to help finance prevention, education and treatment efforts for the more than 25 million Africans suffering from AIDS, and we call on the drug companies to continue lowering their prices to facilitate this end. The solution must also include significantly greater funding for public research groups such as the National Institute of Health, which would have different incentives than private corporations and which would not oppose...