Novartis cuts cost of malaria drug Coartem by 20%
Swiss drug maker Novartis says it is lowering the public-sector price of its antimalarial drug Coartem by 20 per cent.
By Agencies |
BASEL, SWITZERLAND: Swiss drug maker Novartis says it is lowering the public-sector price of its antimalarial drug Coartem by 20 per cent.
The Basel-based company says the price reduction to US$0.80 (euro0.50) from US$1 (euro0.63) will make the treatment more widely available.
The move takes effect on April 25, the World Malaria Day. The company says in a statement released Wednesday that the price cut was made possible thanks to more efficient production methods.
The Novartis treatment has a cure rate of up to 95 percent even in areas of multi-drug resistance.
Malaria kills about 1 million people a year with most deaths occurring in sub-Saharan Africa.
The Basel-based company says the price reduction to US$0.80 (euro0.50) from US$1 (euro0.63) will make the treatment more widely available.
The move takes effect on April 25, the World Malaria Day. The company says in a statement released Wednesday that the price cut was made possible thanks to more efficient production methods.
The Novartis treatment has a cure rate of up to 95 percent even in areas of multi-drug resistance.
Malaria kills about 1 million people a year with most deaths occurring in sub-Saharan Africa.
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