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The World Trade Organisation (WTO) has exempted Least Developed Countries (LDCs) from drug patents until 2033.
LDCs represent a population of 1 billion people, with an average per capita annual income of USD$950 (2016) according to world bank statistics.
The average income of a least developed country is less that 10% of the global average of $10,366 and less than 2 % of the United States' $58,270 GNI per capita.
According to a UN report in 2014 71.23% of people in developing countries are at risk of catastrophic expenditure for surgical care. This means that the cost of essential medical treatment can drive families into extreme poverty.
UN studies show patients in LDCs often forgo treatment and potentially life extending therapies because of the financial burden it places on their families.
The average income of a least developed country is less that 10% of the global average of $10,366 and less than 2 % of the United States' $58,270 GNI per capita.
According to a UN report in 2014 71.23% of people in developing countries are at risk of catastrophic expenditure for surgical care. This means that the cost of essential medical treatment can drive families into extreme poverty.
UN studies show patients in LDCs often forgo treatment and potentially life extending therapies because of the financial burden it places on their families.
In general cancer rates are higher in developed countries compared to least developed countries. LDCs however have a higher rates of cancers such as stomach, liver and oesophagus.
The model of Indian Pharmaceutical Companies has proved it is possible to market quality generics drugs for a small fraction of the price of an innovators. The Chicago tribune headlines http://www.chicagotribune.com/business/ct-drug-price-sofosbuvir-sovaldi-india-us-20160104-story.html that the same pill that costs $1000 in the US sells for $4 in India.
In 2005 India introduced pharmaceutical patenting, and as a result in recent years Indian generic companies are not able to produce generics of new innovative drugs without obtaining a licence from the originator.
Thus although Indian produced medicines are the backbone of many LDCs pharmaceutical supply chains, the supply of new innovative products has been stifled because the change in patent laws in India.
The model of Indian Pharmaceutical Companies has proved it is possible to market quality generics drugs for a small fraction of the price of an innovators. The Chicago tribune headlines http://www.chicagotribune.com/business/ct-drug-price-sofosbuvir-sovaldi-india-us-20160104-story.html that the same pill that costs $1000 in the US sells for $4 in India.
In 2005 India introduced pharmaceutical patenting, and as a result in recent years Indian generic companies are not able to produce generics of new innovative drugs without obtaining a licence from the originator.
Thus although Indian produced medicines are the backbone of many LDCs pharmaceutical supply chains, the supply of new innovative products has been stifled because the change in patent laws in India.
