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Business

Big drug makers create $1 billion antibiotics fund

by Michael McCoy
July 11, 2020 | APPEARED IN VOLUME 98, ISSUE 27

 

More than 20 drug companies have joined to launch the AMR Action Fund, a partnership that aims to bring 2–4 new antibiotics to patients by 2030. The companies say they have so far raised nearly $1 billion to support research into combating antimicrobial resistance (AMR). Although some 700,000 people die every year due to AMR, many companies have exited antibiotic R&D, and others have declared bankruptcy, because it’s difficult to make money selling a product that must be used sparingly.

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