How pharmaceutical companies can expand medicine access in emerging markets

In a bid to enhance medicine access in low and middle-income countries (LMICs), pharmaceutical companies are increasingly acknowledging the need for collaboration and accountability. CNBC Africa recently interviewed Jayasree K. Iyer, the Chief Executive Officer of Access to Medicine Foundation, shedding light on the critical steps that companies can take to improve access to essential medicines while expanding their businesses in emerging markets. One of the key points highlighted in the interview was the importance of pharmaceutical companies aligning their focus with the actual need and burden of disease to determine the number of patients who require treatment. This approach, rather than merely targeting affluent populations based on willingness to pay, can significantly bridge the gaps in health equity. Companies must prioritize embedding patient reach approaches in their operations and distribution networks to ensure access to treatment for underserved communities beyond traditional sales points. Moreover, the discussion delved into the challenges hindering pharmaceutical companies from effectively tracking patient reach, particularly for essential medicines in diverse regions. The lack of data on patient reach, especially in community-based and outpatient settings, poses a significant obstacle. To address this, companies are urged to enhance data collection mechanisms and integrate patient-centric approaches across their operational landscape. Furthermore, the interview touched upon the disparity in insulin access for patients, citing that over 50% of individuals living with diabetes in Africa remain undiagnosed or untreated. To strike a balance between financial objectives and widening access to critical medications, companies are encouraged to extend their reach across various geographies, including untapped markets in sub-Saharan Africa. By prioritizing patient access and affordability, pharmaceutical firms can contribute to addressing the rising demand for quality and affordable medicines in underserved regions. Discussing the importance of private sector investments in healthcare, the conversation emphasized the need for mutual efforts from pharmaceutical companies, private organizations, and governments to bolster healthcare infrastructure and affordability. Increased government spending on healthcare, particularly in reimbursement mechanisms, can alleviate the financial burden on patients and facilitate broader access to treatments. The interview also underscored the significance of collaboration among pharmaceutical companies, governments, and stakeholders to enhance access to medicines like insulin. Despite the challenges of tailored approaches and resource constraints, a collective commitment to reaching vulnerable populations can drive improvements. Highlighting the forthcoming 'Access to Medicine Index,' which showcases best practices and examples of broadened access, Iyer emphasized the importance of refining commitments to expand patient reach within the industry. In conclusion, the interview with Jayasree K. Iyer elucidated the transformative potential of collaborative strategies in advancing health equity in emerging markets. By embracing patient-centric approaches, enhancing data-driven decision-making, and fostering strategic partnerships, pharmaceutical companies can not only expand their businesses but also contribute significantly to improving access to life-saving medicines for underserved communities worldwide.