Establishment of Japan's first Public-Private Partnership to facilitate the development of new health technologies for the developing world
April 8, 2013
- On April 8, the Global Health Innovative Technology Fund (GHIT Fund), a general incorporated association based in Japan, announced the establishment of this Fund. Upon the establishment of this fund, the Ministry of Foreign Affairs of Japan, together with the Ministry of Health, Labour and Welfare, contributed 700 million yen respectively, by the supplementary budget for 2012 (financial year), to the United Nations Development Programme in partnership with the GHIT Fund to promote research and development of the medicines for developing countries, as well as to support their delivery through public-private partnership.
- Currently, research and development of medicines for diseases that are endemic in developing countries, including Neglected Tropical Diseases (NTDs), tuberculosis (TB), malaria, is insufficient, due to the low demand for these medicines in developed countries. The international community is urged to provide people with access to affordable essential medicines, in cooperation with pharmaceutical companies.
- The GHIT Fund and the UNDP will cooperate to contribute to the improvement of global health through this public-private partnership. It is expected that more active Japanese pharmaceutical industry in research and development of medicines for NTDs, tuberculosis, and malaria will help improve lives of the people who suffer from these diseases.