13 Jan Can Non-Profit Drug Companies Cure Diseases of Poverty?
Only 3% of the pharmaceutical industry’s research and development budget goes to diseases in the developing world, even though developing countries bear 90% of the world’s disease burden.
In an effort to fix that imbalance, in 2000 Victoria Hale, a former FDA official, founded the Institute for OneWorld Health. OneWorld Health is a non-profit pharmaceutical company that works with foundations, private sector companies and governments to develop drugs for diseases of poverty. Pharmaceutical companies don’t tackle these diseases on their own because drug sales won’t recoup the cost of bringing the drugs to market.