In a first-of-its-kind move by a drug maker, Teva Pharmaceuticals (TEVA) recently sold $5 billion in bonds that are tied directly to its progress in achieving goals linked to climate change and making medicines accessible in certain low and middle-income countries.
The goal is to increase the cumulative number of marketing applications submitted to regulators in low and middle-income countries — as well as the volume of donated medicines — by 150% by 2025, compared with the four-year period starting in 2017. The treatments must be considered essential medicines by the World Health Organization and would be used for diabetes and heart disease, among other ailments.
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