G7 summit to discuss HIV/AIDS drug access

At their July summit in Genoa, Italy, leaders of the G7 countries areexpected to explore ways of getting HIV/ AIDS treatments to the needy, a UK Treasury spokeswoman has said. The issue is likely to be discussed at the next G7 finance ministers' meeting at end-April, she said, but "the detail will probably come out at the main meeting in Genoa," reports Reuters.

At the meeting, the UK will push its proposal for an international purchase fund for medicines and vaccines, which was put forward recently by UK Chancellor of the Exchequer Gordon Brown, in a joint effort with Italy, which currently has the G7 presidency.

Ahead of his budget speech on March 7 (Marketletter March 12), Mr Brown said he would create new tax incentives to accelerate research into diseases such as AIDS, tuberculosis and malaria, and he was prepared to match the tax credit for UK research with one for work done elsewhere. But, he added, this must be met by a corporate commitment to create new drugs and vaccines "in ways that truly meet the needs of the poor and sick." And, if drug firms were prepared to increase the availability of treatments that are genuinely needed, "we would be prepared to match that commitment by considering a tax deduction," he said. Mr Brown's proposals were welcomed by industry leaders.