Abbott Cuts AIDS Drugs Cost
Yesterday, pharmaceutical giant Abbott Laboratories, announced that it would cut the cost of AIDS medications in over 40 developing countries by 55%. Patients in these countries will now be able to purchase the drugs for $1,000 a year.
From Reuters:
“The company has had a worse-than-average reputation with AIDS patient groups, notably after a 400 percent price hike it set a few years ago for another AIDS drug. Advocates were mixed on the significance of the Kaletra announcement.
Abbott was the most hard-nosed opponent we faced in a very long time,” said Michael Weinstein, president of the AIDS Healthcare Foundation, which runs treatment clinics in the developing world. He called the move “an historic victory” for AIDS activists.
But another prominent patient group and provider of medicines said it was too early to declare victory, because an announced price cut does not always translate to real availability of medicines.”
Read the full piece here.
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