New report highlights need for global antibiotic research fund

A new report has called for an innovation fund to be established by the global pharmaceutical industry in order to support the development of new classes of antibiotics.

The report from a UK government-appointed review team, headed by economist Jim O'Neill, has recommended the introduction of a $2 billion (1.27 billion pounds) fund to support innovative research over a five-year period.

Pharmaceutical companies would be encouraged to pay into this fund, with companies such as Roche and GlaxoSmithKline having already expressed support for the concept. A global body could also be established to subsidise research efforts further.

Left unchecked, antimicrobial resistance could lead to ten million deaths annually by 2050 and cost the global economy $100 trillion.

Mr O'Neill said: "We need to kick-start drug development to make sure the world has the drugs it needs, to treat infections and to enable modern medicine and surgery to continue as we know it."