STAT+: Rising oil prices can boost the cost of some medicines. One expert says it’s time to lower reliance on fossil fuels
Unitaid found the rising price of oil could boost the cost of a widely used HIV medicine it reviewed in a detailed analysis.
The escalating conflict in Iran has led to a surge in oil prices, raising concerns about the potential disruption of medicine supply chains. However, a fresh report from Unitaid highlights an additional factor: the volatility in oil prices can significantly impact the manufacturing costs of essential medicines. The global health organization specifically analyzed the effect of rising oil prices on a widely-used HIV medication, revealing that manufacturing expenses could surge by 15% if oil prices reach $120 per barrel.
Astonishingly, 85% of these increased costs are attributed to petrochemical ingredients. Julien Pouille, who leads the climate and health strategic team and serves as the lead author of the report, contends that reducing our dependence on petrochemical products could help curb rising medicine costs and contribute to environmental sustainability.
This information was compiled from an interview. Pouille elaborated on the motivation behind this investigation, stating that as part of their climate and health strategy, they aim to advance knowledge that benefits both health and the environment. Given the ongoing Middle East crisis, they deemed it particularly pertinent to examine the relationship between medicine prices and oil prices, anticipating potential risks to patient access. For the complete account, continue to STAT+.
Written by urgent.news from STAT News's reporting — not their text. Machine-written — may contain errors; check the original before relying on it.
