G8 summit Current Affairs - 2019

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Larus Labs partners with Global Fund for supply of AIDS drugs

Hyderabad-based pharma Laurus Labs Limited has announced that it has entered into a strategic partnership agreement with Global Fund for a period of 3.5 years. The agreement gives Laurus Labs volume commitments for drugs from the Global Fund for the treatment of HIV/AIDS.

Global Fund to Fight AIDS, Tuberculosis and Malaria

Global Fund to Fight AIDS, Tuberculosis and Malaria was created in 2002 to raise, manage and invest the world’s money to respond to three of the deadliest infectious diseases the world has ever known. The Global Fund was established with an objective to defeat these three diseases.

AIDS, TB and malaria are all preventable and treatable. The tackling of these disease requires the commitment not only of world leaders and decision-makers but also of those working on the ground to help the men, women and children living with these diseases.

The idea of Global fund was discussed in the G8 summit in Okinawa, Japan, in 2000 and the real commitment began to coalesce at the African Union summit in April 2001. The idea continued doing rounds at the United Nations General Assembly Special Session in 2001 and finally endorsed by the G8 at their summit in Genoa, Italy, in July 2001.

The public sector contributions have constituted 95 per cent of all financing raised by the Global Fund and the remaining 5 per cent came from the private sector or other financing initiatives such as Product Red.

Global Fund aims to attract, leverage and invest additional resources to end the epidemics of HIV/AIDS, tuberculosis and malaria to support attainment of the Sustainable Development Goals established by the United Nations.

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