Britain will call on leading industrial nations to give tax incentives to drug firms to produce medicines to fight disease in poor countries, The Times in London reported April 26.
Britain plans a tax credit for research on drugs and vaccines, along with tax breaks for drug makers donating drugs to international agencies.
Gordon Brown, Britain’s chancellor of the exchequer, will call on other nations to follow suit at a meeting in Washington, D.C., of the G7 finance ministers.
Government officials in many countries recognize that only rewards will spur drug firms to develop treatments for diseases in the poorest countries, the Times said.
Drug firms invest 90 percent of research costs in products benefiting only 10 percent of the world’s population, the Times said.
For full story, go The Times.