Wespath Helps Expand Medicines Patent Pool
January 10, 2014
Bristol-Myers Squibb, a global biopharmaceutical company, has announced it has signed a licensing agreement with the Medicines Patent Pool to make the HIV/AIDS drug Atazanavir more accessible around the world. Wespath was the lead investor in the shareholder group that encouraged Bristol-Myers Squibb to evaluate the business opportunities presented by the patent pool.
The Medicines Patent Pool is an international organization dedicated to making HIV/AIDS drugs more affordable through licensing to generic manufacturers. Founded in 2010, the Medicines Patent Pool is endorsed by the World Health Organization. More information is available here.
The Bristol-Myers Squibb agreement will allow Atazanavir to be marketed to more than 88% of those living with HIV/AIDS in approximately 110 countries. Working with other investors, including Mercy Investment Services and Christian Brothers Investment Services, Wespath began discussions with Bristol-Myers Squibb in 2010.
A copy of the Medicines Patent Pool press release is available here.