Joint EFPIA-IFPMA Press Release Announcing the AMR Action Fund
The AMR Action Fund, an initiative of the international body representing the R&D pharmaceutical industry (International Federation of Pharmaceutical Manufacturers & Associations, IFPMA), was announced at simultaneous virtual launch events in Berlin, Germany, and Washington, D.C., USA, with a third event in Tokyo, Japan taking place on July 10.
AMR is a looming global crisis that has the potential to dwarf COVID-19 in terms of deaths and economic costs. While tragically the death toll of COVID-19 continues to rise, each year 700,000 people are dying each year from AMR. In some of the most alarming scenarios, it is estimated that by 2050 AMR could claim as many as 10 million lives per year.
“Unlike COVID-19, AMR is a predictable and preventable crisis. We must act together to rebuild the pipeline and ensure that the most promising and innovative antibiotics make it from the lab to patients,”’ said Thomas Cueni, Director General of the IFPMA, one of the organizers of the new fund. He adds: “The AMR Action Fund is one of the largest and most ambitious collaborative initiatives ever undertaken by the pharmaceutical industry to respond to a global public health threat”.
The world urgently needs new antibiotics, but there are few in the pipeline because of a paradox: despite the huge societal costs of AMR, there is currently no viable market for new antibiotics. New antibiotics are used sparingly to preserve effectiveness, so in recent years, a number of antibiotic-focused biotechs have declared bankruptcy or exited this space due to the lack of commercial sustainability, resulting in the loss of valuable expertise and resources. The result is a huge public health need for new antibiotics, but a lack of funding available for antibiotic R&D, particularly the later stages of clinical research. This creates a “valley of death” between discovery and patient access.
“With the AMR Action Fund, the pharmaceutical industry is investing nearly US$1 billion to sustain an antibiotic pipeline that is on the verge of collapse, a potentially devastating situation that could affect millions of people around the world,” said David Ricks, Chairman and CEO of Eli Lilly and Company and President of IFPMA. “The AMR Action Fund will support innovative antibiotic candidates through the most challenging later stages of drug development, ultimately providing governments time to make the necessary policy reforms to enable a sustainable antibiotic pipeline.”
While the AMR Action Fund is an important step in addressing the challenge of AMR, policymakers across the globe must enact market-based reforms, including reimbursement reform and new pull incentives, to revitalize the antibiotics market and drive sustainable investments in antibiotic R&D. Until then, the biopharmaceutical industry is taking action now to support the current pipeline of antibiotics.
With this investment from leading biopharmaceutical companies, the AMR Action Fund will be the largest collective venture ever created to address AMR. The AMR Action Fund will:
- Invest in smaller biotech companies focused on developing innovative antibacterial treatments that address the highest priority public health needs, make a significant difference in clinical practice, and save lives.
- Provide technical support to portfolio companies, giving them access to the deep expertise and resources of large biopharmaceutical companies, to strengthen antibiotic development, and support access and appropriate use of antibiotics.
- Bring together a broad alliance of industry and non-industry stakeholders, including philanthropies, development banks, and multilateral organizations, and help encourage governments to create market conditions that enable sustainable investment in the antibiotic pipeline.
“The dangers posed by AMR are more clear and present than ever through the current COVID-19 pandemic. Without action now, AMR could undo decades of progress in healthcare and cost the lives of millions. The research-based pharmaceutical industry is committed to playing its role to address this unmet medical need.”, said Nathalie Moll, Director General of the EFPIA. “While much-needed policy solutions are explored by European policy-makers to address market failures in the antimicrobial area, the AMR Action Fund will help progress a pipeline of potential innovative medicines to treat infections caused by resistant bacteria”.
The AMR Action Fund expects to invest more than US$1 billion with the support of future partners into a portfolio of companies to address the funding gap for the financing of antibiotic development. The Fund is expected to be operational during the fourth quarter of 2020.
For more details on the AMR Action fund, visit www.AMRactionfund.com.
— ENDS –
About AMR Action Fund
The AMR Action Fund is an initiative from over 20 leading biopharmaceutical companies that have pledged to invest nearly US$1 billion, with the aim to bring 2-4 new antibiotics to market by 2030. The AMR Action Fund will invest in small companies developing innovative antibacterial treatments. It will forge partnerships with institutions and philanthropic organizations, development banks, and multilateral organizations to strengthen and accelerate antibiotic development. It will also work with governments to ensure there is a sustainable pipeline of new antibiotics to fight superbugs.
The concept of the AMR Action Fund was developed by the IFPMA and the Biopharmaceutical CEOs Roundtable (BCR), and biopharmaceutical companies and foundation, in collaboration with the World Health Organization (WHO), The European Investment Bank (EIB), and the Wellcome Trust.
Messages of support for the AMR Action Fund
“AMR is a slow-motion tsunami and thus I welcome the creation of the AMR Action Fund and the financial engagement of the pharmaceutical industry to support the development of urgently needed antibacterial treatments. WHO stands ready to provide guidance to the Fund to ensure that it addresses urgent public health needs and fosters access and appropriate use of new antibiotics.” Dr Tedros Adhanom Ghebreyesus, Director General World Health Organization
“New antibiotics are needed to address growing resistance. EIB is actively supporting identified market failures with innovative financial instruments, antimicrobial resistance is clearly one. It is high time that we joined forces with public and private actors, such as the pharmaceutical industry, philanthropic funders, multilateral development banks, and the World Health Organization to tackle this threat.
“Supporting the set-up of such a high impact fund for public health issues is fully in line with the key missions of EIB in the health sector and we are proud to be part of the initiation group.” Werner Hoyer, President, EIB (European Investment Bank)
Bioharmaceutical companies and foundations supporting the AMR Action FundAlmirall, Amgen, Bayer, Boehringer Ingelheim, Chugai, Daiichi-Sankyo, Eisai, Eli Lilly and Company, GlaxoSmithKline, Johnson & Johnson, LEO Pharma, Lundbeck, Menarini, Merck, MSD, Novartis, Novo Nordisk, Novo Nordisk Foundation, Pfizer, Roche, Shionogi, Takeda, Teva, UCB