Financial crisis threatens access to cheap drugs

May 19, 2009 03:22:22 PM

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The global financial crisis is threatening access to cheaper medication for people in developing countries, the head of UNITAID, an international drug purchase facility, warned Monday.

Former French foreign minister Philippe Douste-Blazy, who heads the Geneva-based organisation, told AFP there was a need to "react very quickly with innovative financing" to prevent aid to poor countries from drying up.

Around 70 percent of UNITAID's financial base comes from a tax on airline tickets, which has been implemented by seven of the organisation's 29 members including France and South Korea.

The tax ranges from one dollar for an economy class ticket to 10 dollars for business and 40 dollars for first class, according to UNITAID's website.

UNITAID was established to increase access for poor people to treatment for AIDS, malaria and tuberculosis.

Douste-Blazy, UN Secretary General Ban Ki-moon's special advisor on innovative financing, added that the UN Millennium Development Goals still needed 50 billion dollars (37 billion euros) of the 150 billion dollars it requires annually to eradicate poverty, malnutrition and disease.

"We have found 100 billion (but) we need to find more financing," he said.

Ban was to chair a meeting on innovative financing during the World Health Assembly in Geneva on Tuesday.