(Reuters) - Several large drugmakers including Merck & Co Inc and Pfizer Inc on Thursday unveiled a $1 billion fund to bolster struggling antibiotic companies and sustain a pipeline for new treatments. Antibiotic makers have struggled with anemic investment and bankruptcies, even after the approval of new drugs, as fears of drug-resistant microbes force hospitals to adopt a more conservative approach toward such treatments. Public health authorities have raised alarms about a looming health crisis, saying deaths from antibiotic-resistant bacteria could dwarf that from the COVID-19 pandemic. The fund, led by the International Federation of Pharmaceutical Manufacturers & Associations, seeks to serve as a temporary solution until new legislation can offer a more permanent fix in the market.

Source: International New York Times July 09, 2020 12:33 UTC