A new study has revealed that investing in global health product Research and Development (R&D) generated a remarkable return on investment, with every $1 invested yielding a staggering $405 in health and economic benefits to societies.
The two-year project, funded by PCR’s G-FINDER, utilised a cutting-edge database of pipeline candidates in infectious diseases and sophisticated modeling to calculate the return on investment.
The study found that breakthrough drugs, diagnostics, vaccines, and vector control products aimed at tackling poverty-related neglected diseases have saved countless lives and years of life, resulting in significant economic benefits.
According to the study, the return on investment stems primarily from the modeling of lives saved and years of life saved resulting from these innovative products.
The figure reflects both the retrospective and prospective impact of products that have come to market in the last 20 years and the anticipated impact of entirely new innovations expected to emerge from the pipeline between now and 2040.
The CEO of Policy Cures Research, Dr. Nick Chapman, commented: “Decision-makers will always face competing interests and budget pressures.
“In recent years have underscored the increasing burden of proof we face as a community to keep global health R&D on the agenda while grappling simultaneously with issues of climate change, financial crisis, war, and racial injustice.
“May this report serve as a key piece of evidence and insight to help meet that call. I can safely say that the scale of the health, economic and wider societal impact identified in our analysis makes an iron-clad case for investing in R&D for global health,” he explained.
The study further highlighted the immense societal benefits of averting 2.83 billion disability-adjusted life years (DALYs), which translates to a net societal benefit of $49.7tn.
Notably, over 70 per cent of the projected health and economic impact is expected to occur between now and 2040.
To fully realise these benefits, the study emphasizes the critical need for ongoing investment in R&D to advance the pipeline and deliver groundbreaking global health products.
The success of neglected disease R&D is evident in the approval of 183 products targeting neglected diseases by regulatory agencies or prequalification by the World Health Organization (WHO) since 1999.
Currently, there are 752 active candidates in the neglected disease pipeline, with sustained investment expected to yield another 182 lifesaving products by 2040.
This groundbreaking project, which spanned over two years, was conducted in collaboration with Anthologie, Avenir Health, the African Population and Health Research Center, the Center for Global Development, and the Stanford Innovative Medicines Accelerator.
The study received funding from the Bill & Melinda Gates Foundation, Open Philanthropy, and Wellcome.