The Health Impact Fund (managed by the non-profit Incentives for Global Health) is a new way of stimulating research and development of life-saving pharmaceuticals using monetary incentives. To provide wide access, medicines need to be affordable-but low prices don’t create strong incentives for innovators to invest in research and development. The Health Impact Fund offers pharmaceutical innovators a supplementary reward based on the health impact of their products, if they agree to sell those products at cost. The proposed Fund is to be financed mainly by governments.
Thomas Pogge and Aidan Hollis run IGH, which Janah helped found in 2007-08. The advisory board includes Nobel Prize-winning economist Amartya Sen and philosopher Peter Singer. The Health Impact Fund: Making Medicines Accessible for All is IGH’s flagship proposal, summarized here. Dr. Pogge’s TED Talk, “Medicine for the Other 99 Percent“ is a good introduction to his ideas.