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TMCNet: Novartis cuts cost of malaria drug Coartem by 20 percent price

[April 23, 2008]

Novartis cuts cost of malaria drug Coartem by 20 percent price

(Associated Press WorldStream Via Acquire Media NewsEdge) BASEL, Switzerland_Swiss drug maker Novartis says it is lowering the public-sector price of its antimalarial drug Coartem by 20 percent.

The Basel-based company says the price reduction to US$0.80 (?0.50) from US$1 (?0.63) will make the treatment more widely available.

The move takes effect on April 25, the World Malaria Day.

The company says in a statement released Wednesday that the price cut was made possible thanks to more efficient production methods.

The Novartis treatment has a cure rate of up to 95 percent even in areas of multi-drug resistance.

Malaria kills about 1 million people a year with most deaths occurring in sub-Saharan Africa.

Copyright ? 2008 The Associated Press. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.

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