By Fergus Walsh
The global pharmaceutical industry is being called on to pay for a $2bn (£1.3bn) innovation fund to revitalise research into antibiotics.
In return, there would be guaranteed payments to companies which produced vitally needed new antibiotics.
There are currently very few new antibiotics in development amid a global spread of resistant bacteria.
The proposals are in a report by a UK government-appointed review team headed by economist Jim O’Neill.
Mr O’Neill said: “We need to kick-start drug development to make sure the world has the drugs it needs, to treat infections and to enable modern medicine and surgery to continues as we know it.”
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