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Making new medicines accessible

The Health Impact Fund (HIF) proposal is promoted by Incentives for Global Health, a non-profit organization devoted to advancing market-based solutions to global health challenges.The HIF proposes a new way of paying for pharmaceutical innovation by incentivizing the development and delivery of new medicines through pay-for-performance mechanisms. All pharmaceutical firms worldwide would have the option of registering new medicines with the HIF. By registering, a firm would agree to provide its drug at cost anywhere it is needed, and in exchange for foregoing the normal profits from drug sales, the firm would be rewarded based on the HIF's assessment of the actual global health impact of the drug. Governments and other donors would finance the HIF.

Thomas Pogge - Reimagining pharmaceutical innovation

In this talk at TEDxCanberra 2011, ANU and Yale academic and ethicist, Professor Thomas Pogge outlines an idea that could revolutionise health outcomes and distribution of pharmaceuticals in both the developed and developing world.