Bill Clinton announces deal with Indian drug firms to cut price of anti-retrovirals.
In that case, Luiz Inacio Lula da Silva, the Brazilian president, issued a “compulsory license,” a legal mechanism that allows a country to manufacture or buy generic versions of patented drugs while paying the patent holder only a small royalty.
The Brazilian government rejected Merck’s offer to sell the drug at a 30 per cent discount – for $1.10 per pill, down from $1.57.
The country was seeking to purchase the drug at $0.65 per pill, the same price Thailand pays.
Abbott previously said it would reduce the price of the drug in 45 “low and low-middle income countries,” such as Brazil.