Hand drug pharmaceutical health Colin Campbell/Flickr

¿Recompra de acciones o devolución de favores?

LONDRES – Cuando el primer ministro británico, David Cameron, me pidió que encabezara una revisión del problema de la resistencia antimicrobiana, lo último que imaginaba era que aceptar el puesto me llevaría a cuestionar una de las herramientas más populares para la gestión financiera corporativa: las recompras de acciones.

El problema de la resistencia antimicrobiana es serio. Si no se lo atiende, podría ser responsable en 2050 de la muerte de unos diez millones de personas por año, más de las que actualmente se mueren de cáncer, junto con un demoledor daño económico de 100 billones de dólares. Afortunadamente, sin embargo, hay mucho que podemos hacer para mitigar la amenaza -siempre que contemos con los recursos adecuados.

Un camino importante que se puede emprender es el desarrollo de nuevos medicamentos. En un documento de próxima publicación, la Revisión sobre Resistencia Antimicrobiana estima que introducir nuevas drogas antimicrobianas en el mercado y mejorar su administración costará unos 25.000 millones de dólares -una suma importante, pero que empalidece en comparación con los costos para la sociedad si el problema no se controla-. Es también aproximadamente lo que dos de las principales compañías farmacéuticas del mundo gastarán este año en recomprar sus propias acciones.

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