NOVARTIS CUTS PRICE OF MALARIA DRUG COARTEM

Novartis has announced it will reduce the average price of its malaria drug Coartem by more than one-third to approximately $1 per treatment in an effort to increase access to the drug in low-income countries, particularly those in Africa.

"The dramatic increase achieved in our production capacity, thanks to an improved supply situation for the natural ingredient artemisinin, provides us with an opportunity to further accelerate access to Coartem in combination with a price decrease," said Daniel Vasella, chairman and CEO of Novartis.

The company has been providing Coartem at no profit since 2001 in collaboration with the World Health Organization. With this price reduction, African countries will now be able to treat twice the number of people with the same amount of funds.

Coartem is the only pre-qualified, fixed-dose therapy combining artemether, an artemisinin derivative, and lumefantrine. It is a highly effective and well-tolerated antimalarial that achieves cure rates of up to 95 percent, even in areas of multidrug resistance. It is indicated for the treatment of acute uncomplicated falciparum malaria, the most dangerous form of malaria.