Pharmaceutical companies need to step up to reach patients in LMICs, finds new report

Gauri Arora from Down to Earth reports on the release of the 9th Access to Medicine Index, which assesses the efforts of 20 major pharmaceutical companies to improve access to their products in low- and middle-income countries.

The article begins by highlighting the 2024 Access to Medicine Index’s updated rankings, where Novartis claims the top position, placing GSK — the long-time leader — in second place. Despite some notable improvements, the article underscores a concerning trend: an overall decline in performance among the 20 evaluated companies compared to the 2022 Index.

This decline is evident across the three technical areas assessed in the 2024 Index: Despite efforts by companies to adapt their business models to focus on low-income countries, progress in securing licensing deals to make affordable generic drugs available in LMICs has slowed. Furthermore, only a few companies have engaged in technology transfer agreements, and the majority of clinical trials are still being conducted outside of LMICs, despite these countries being home to 80% of the global population.

The article quotes Jayasree Iyer, CEO of the Access to Medicine Foundation: “There are significant opportunities to scale access and finally bridge the health equity gap for billions around the world. By using tried-and-tested mechanisms and new and innovative approaches, as well as leveraging their local partnerships, companies can meet their full potential in delivering their lifesaving treatments to patients, wherever they are needed.”