Commissioned by the British government, the Review on Antimicrobial Resistance set out steps to fight the emergence of "superbugs" as infections become immune to existing drugs, allowing minor injuries and common infections to become deadly.
"It needs to be seen as the economic and security threat that it is, and be at the forefront of the minds of heads of state," wrote Jim O'Neill, the economist who led the review.
At the same time, researchers should be encouraged to develop new antibiotics through a global fund for research and rewards for those who manage to develop new drugs.
The cost of the measures was estimated to be USD 40 billion (35.6 billion euros) over ten years -- far less than the cost if the growing problem is not addressed.
"There is no excuse for inaction given what we know about the impact of rising drug resistance," the paper said.
"They can either do so proactively by taking action now and pay less for better outcomes, or remain unprepared and end up spending much more taxpayer money on far worse outcomes further down the line."
The paper argued that the response could be funded through countries' health budgets or through taxes on pharmaceutical companies that do not invest on antibiotic research.
O'Neill, an economist known for coining the term "BRIC" to describe large emerging countries and who was asked by the British government to chair the review, noted that one million people had died of antimicrobial resistance since the review started in mid-2014.
You’ve hit your limit of {{free_limit}} free articles this month.
Subscribe now for unlimited access.
Already subscribed? Log in
Subscribe to read the full story →
Smart Quarterly
₹900
3 Months
₹300/Month
Smart Essential
₹2,700
1 Year
₹225/Month
Super Saver
₹3,900
2 Years
₹162/Month
Renews automatically, cancel anytime
Here’s what’s included in our digital subscription plans
Access to Exclusive Premium Stories Online
Over 30 behind the paywall stories daily, handpicked by our editors for subscribers


Complimentary Access to The New York Times
News, Games, Cooking, Audio, Wirecutter & The Athletic
Business Standard Epaper
Digital replica of our daily newspaper — with options to read, save, and share


Curated Newsletters
Insights on markets, finance, politics, tech, and more delivered to your inbox
Market Analysis & Investment Insights
In-depth market analysis & insights with access to The Smart Investor


Archives
Repository of articles and publications dating back to 1997
Ad-free Reading
Uninterrupted reading experience with no advertisements


Seamless Access Across All Devices
Access Business Standard across devices — mobile, tablet, or PC, via web or app