Tuesday, June 16, 2009

Canada backs drug financing mechanism

From the National Post:
Jim Flaherty, the Minister of Finance, helped cut the ribbon on Friday in Italy on a largely unheralded initiative that could represent one of Canada's most significant contributions ever to improving global health.

The $1.5-billion initiative is known as the Advance Market Commitment, or AMC, and Canadian officials as well as those involved in improving global public health say it will save nearly a million lives by 2030 in the world's poorest countries.

"It is novel. This hasn't been done before," Mr. Flaherty said before leaving for Italy and a weekend meeting of G8 finance ministers.

The finance ministers gathered in Lecce to discuss some of the world's most pressing financial problems but Mr. Flaherty, along with the finance ministers from Italy and other countries, held a brief ceremony ahead of those talks to officially launch AMC, a culmination of more than two years of work. ...more

1 comment:

Hugh Paton said...

This is a very innovative example of risk-sharing / pooling on its ultimate level: global. Now we should turn our gaze inward and figure out how to do intra-Canada risk-sharing for all Canadians to have access to prescription drugs. The federal government has not figured this out yet, but private health plans and public plans can collaborate to achieve this within the next 12 - 24 months. Ask me how at hugh@patonconsulting.ca and we'll get started. I can't wait, can you?