Donald Trump accepted an invitation from Kim Jong Un to visit North Korea during their historic summit, Pyongyang state media reported Wednesday, as the US president said the world had jumped back from the brink of "nuclear catastrophe".&nbsp;

Tuesday's unprecedented encounter in Singapore saw the leader of the world's most powerful democracy shake hands with Kim, the third generation scion of a dynastic dictatorship, as they stood as equals in front of their nations' flags.

In a characteristically bullish tweet, Trump said the first-ever summit between sitting leaders of the two Cold War foes meant "the World has taken a big step back from potential Nuclear catastrophe!"

"No more rocket launches, nuclear testing or research! The hostages are back home with their families. Thank you to Chairman Kim, our day together was historic!"

In a joint statement following the talks, Kim agreed to the "complete denuclearisation of the Korean Peninsula" -- a stock phrase favoured by Pyongyang that stopped short of long-standing US demands for North Korea to give up its atomic arsenal in a "verifiable" and "irreversible" way.

In its first report on the landmark summit, the official KCNA news agency ran a glowing dispatch on the talks, describing them as an "epoch-making meeting" that would help foster "a radical switchover in the most hostile (North Korea)-US relations".

The report said the two men each asked the other to visit their country.

"The two top leaders gladly accepted each other's invitation," KCNA said.

It asserted that Trump had "expressed his intention" to lift sanctions against the North -- something the US president had told a blockbuster press conference would happen "when we are sure that the nukes are no longer a factor".

"The sanctions right now remain," he added.&nbsp;

With the headline: "Meeting of the century opens new history in DPRK-US relations", the North's ruling Workers Party official daily Rodong Sinmun splashed no fewer than 33 pictures across four of its usual six pages.

One of the pictures showed a smiling Kim shaking hands with Trump's hawkish National Security Advisor John Bolton, who has previously advocated military action against the North, which in turn has referred to him as "human scum."

'War games' 
Pyongyang has reason to feel confident after the meeting, a major coup for an isolated and heavily sanctioned regime that has long craved international legitimacy.

"Kim Jong Un got what he wanted at the Singapore Summit: the international prestige and respect of a one-on-one meeting with the American president, the legitimacy of North Korean flags hanging next to American flags in the background," said Paul Haenle, director of the Carnegie-Tsinghua Center.

In his post-summit press conference, Trump made the surprise announcement that the US would halt joint military exercises with its security ally Seoul -- something long sought by Pyongyang, which claims the drills are a rehearsal for invasion.

The US stations around 30,000 troops in security ally South Korea to protect it from its neighbour, which invaded in 1950 in an attempt to reunify the peninsula by force.

"We will be stopping the war games which will save us a tremendous amount of money," Trump told reporters, adding that "at some point" he wanted to withdraw US troops from the South.

Both Seoul and US military commanders in the South indicated they had no idea the announcement was coming, and in an editorial Wednesday the Korea Herald said it was "worrisome".

Smiles and handshakes 
The Singapore summit was a potentially legacy-defining meeting for both men -- comparable to president Richard Nixon's 1972 visit to China, or Ronald Reagan's 1986 summit with Mikhail Gorbachev in Reykjavik.

Only a few months ago, the pair were swapping personal insults such as "dotard" and "little rocket man" and the North conducted its six and most powerful nuclear test, as well as firing missiles over Japan.

Trump vowed to rain down "fire and fury" on Pyongyang if it threatened the US but instead in Singapore it was compliments that flowed, as the president described Kim as "talented" and said they had forged a "special bond."

After a day filled with smiles and handshakes watched around the world, the US "committed to provide security guarantees" to North Korea.

But critics charged that the summit legitimised Kim, whose regime has been accused of multiple human rights abuses, and said the summit was more about headlines than substantive progress.

Trump said the US would be checking Kim's progress towards denuclearisation "very strongly" but many agreements made in the past with North Korea have later fallen apart.

World powers from China to Japan, the European Union and Russia welcomed its outcome -- while cautioning it was only the first step towards resolving the nuclear stand-off with Pyongyang.

But some media in Japan, which North Korea has in the past threatened to "sink into the sea", were cautious.

"The real bargaining has now started between the US and North Korea. Problems that cannot be solved through a bling-bling political show remain on both sides," said the liberal Mainichi Shimbun.

Kim says denuclearisation dependent on ceasing antagonism: KCNA

Kim Jong-Un meanwhile said ridding the Korean Peninsula of nuclear weapons is dependent on Washington and Pyongyang ceasing moves that antagonise each other, the North's state media said Wednesday.

"Kim Jong Un said in order to achieve peace and stability of the Korean Peninsula and realise its denuclearisation, the two countries should commit themselves to refraining from antagonising... each other out of mutual understanding," the state-run KCNA news agency said.

Kim meanwhile said ridding the Korean Peninsula of nuclear weapons is dependent on Washington and Pyongyang ceasing moves that antagonise each other

Donald Trump accepted an invitation from Kim Jong Un to visit North Korea during their historic summit, Pyongyang state media reported Wednesday, as the US president said the world had jumped back from the brink of "nuclear catastrophe". Tuesday's unprecedented encounter in Singapore saw the leader of the world's most powerful democracy shake hands with Kim, the third generation scion of a dynastic dictatorship, as they stood as equals in front of their nations' flags. In a characteristically bullish tweet, Trump said the first-ever summit between sitting leaders of the two Cold War foes meant "the World has taken a big step back from potential Nuclear catastrophe!" "No more rocket launches, nuclear testing or research! The hostages are back home with their families. Thank you to Chairman Kim, our day together was historic!" In a joint statement following the talks, Kim agreed to the "complete denuclearisation of the Korean Peninsula" -- a stock phrase favoured by Pyongyang that stopped short of long-standing US demands for North Korea to give up its atomic arsenal in a "verifiable" and "irreversible" way. In its first report on the landmark summit, the official KCNA news agency ran a glowing dispatch on the talks, describing them as an "epoch-making meeting" that would help foster "a radical switchover in the most hostile (North Korea)-US relations". The report said the two men each asked the other to visit their country. "The two top leaders gladly accepted each other's invitation," KCNA said. It asserted that Trump had "expressed his intention" to lift sanctions against the North -- something the US president had told a blockbuster press conference would happen "when we are sure that the nukes are no longer a factor". "The sanctions right now remain," he added. With the headline: "Meeting of the century opens new history in DPRK-US relations", the North's ruling Workers Party official daily Rodong Sinmun splashed no fewer than 33 pictures across four of its usual six pages. One of the pictures showed a smiling Kim shaking hands with Trump's hawkish National Security Advisor John Bolton, who has previously advocated military action against the North, which in turn has referred to him as "human scum." 'War games' Pyongyang has reason to feel confident after the meeting, a major coup for an isolated and heavily sanctioned regime that has long craved international legitimacy. "Kim Jong Un got what he wanted at the Singapore Summit: the international prestige and respect of a one-on-one meeting with the American president, the legitimacy of North Korean flags hanging next to American flags in the background," said Paul Haenle, director of the Carnegie-Tsinghua Center. In his post-summit press conference, Trump made the surprise announcement that the US would halt joint military exercises with its security ally Seoul -- something long sought by Pyongyang, which claims the drills are a rehearsal for invasion. The US stations around 30,000 troops in security ally South Korea to protect it from its neighbour, which invaded in 1950 in an attempt to reunify the peninsula by force. "We will be stopping the war games which will save us a tremendous amount of money," Trump told reporters, adding that "at some point" he wanted to withdraw US troops from the South. Both Seoul and US military commanders in the South indicated they had no idea the announcement was coming, and in an editorial Wednesday the Korea Herald said it was "worrisome". Smiles and handshakes The Singapore summit was a potentially legacy-defining meeting for both men -- comparable to president Richard Nixon's 1972 visit to China, or Ronald Reagan's 1986 summit with Mikhail Gorbachev in Reykjavik. Only a few months ago, the pair were swapping personal insults such as "dotard" and "little rocket man" and the North conducted its six and most powerful nuclear test, as well as firing missiles over Japan. Trump vowed to rain down "fire and fury" on Pyongyang if it threatened the US but instead in Singapore it was compliments that flowed, as the president described Kim as "talented" and said they had forged a "special bond." After a day filled with smiles and handshakes watched around the world, the US "committed to provide security guarantees" to North Korea. But critics charged that the summit legitimised Kim, whose regime has been accused of multiple human rights abuses, and said the summit was more about headlines than substantive progress. Trump said the US would be checking Kim's progress towards denuclearisation "very strongly" but many agreements made in the past with North Korea have later fallen apart. World powers from China to Japan, the European Union and Russia welcomed its outcome -- while cautioning it was only the first step towards resolving the nuclear stand-off with Pyongyang. But some media in Japan, which North Korea has in the past threatened to "sink into the sea", were cautious. "The real bargaining has now started between the US and North Korea. Problems that cannot be solved through a bling-bling political show remain on both sides," said the liberal Mainichi Shimbun. Kim says denuclearisation dependent on ceasing antagonism: KCNA Kim Jong-Un meanwhile said ridding the Korean Peninsula of nuclear weapons is dependent on Washington and Pyongyang ceasing moves that antagonise each other, the North's state media said Wednesday. "Kim Jong Un said in order to achieve peace and stability of the Korean Peninsula and realise its denuclearisation, the two countries should commit themselves to refraining from antagonising... each other out of mutual understanding," the state-run KCNA news agency said.

Summit with Kim helped avoid 'nuclear catastrophe', says Trump

London: Stock markets traded within sight of their highest levels this year on Wednesday as the prospect of stimulative economic policy across the developed world eased immediate concern over Britain&#39;s vote to leave the European Union. 
 
The swift moves by the Conservative Party that see Theresa May replacing David Cameron as prime minister on Wednesday have helped fund a recovery that, aside from sterling itself, has wiped out the negative reaction to the June 23 vote. 
 
Asian markets outside Japan gained another third of a percent to come within a hair&#39;s breadth of the year&#39;s highs from April, while European shares rose 0.2 percent, on course for their fifth straight day of gains. 
 
Traders say that concerns over the economic and political impact of what promise to be torturous exit talks between London and Brussels have not gone away, but they are certainly on the back burner for a moment. 
 
U.S. stock futures showed Wall Street set to build further on record highs hit on Tuesday. Expectations that sterling&#39;s fall will help British companies has London&#39;s FTSE index at its highest since last August. 
 
&quot;This is a short term relief rally thanks to some certainty around the swift handover to a new PM,&quot; said Tobias Davis, Head of Corporate Treasury Sales at Western Union in London. 
 
&quot;The path ahead still looks incredibly challenging. Equities are only rallying thanks to negative yields across most of the curve in Swiss, German and Japanese markets. In reality, the economic landscape is deteriorating.&quot; 
 
Sterling, whose 14 percent fall made it one of the main victims of last month&#39;s referendum, hit its highest in more than a week at $1.3340. 
 
But for every blip higher for the pound at the moment there are more sellers ready to bet it will fall further in the months ahead and it quickly fell back to stand just 0.2 percent stronger on the day at $1.3280. 
 
The yen, investors&#39; go-to currency in times of market stress was also up half a percent against the euro and dollar after falling sharply on the back of Japan&#39;s move into another round of stimulative policy. 
 
The debate among currency traders around Thursday&#39;s Bank of England meeting is also now not whether it will cut interest rates but by how much -- some measure of the concern over the economy&#39;s fate for the rest of the year. 
 
&quot;I&#39;m struck at the enthusiasm of all and sundry to tell us that European and U.S. growth rates will hardly be affected by the UK post-referendum slowdown,&quot; Societe Generale&#39;s Kit Juckes said in a note to clients. 
 
&quot;That flies in the face of the increased correlation of major economies&#39; growth rates in an ever more connected world.&quot; 
 
Stimulus 
In commodities, oil prices dropped after industry group American Petroleum Institute (API) reported a surprise build of 2.2 million barrels in US crude stockpiles last week. [O/R] 
 
Brent crude futures fell 1.6 percent to $47.71 after surging roughly 5 percent on Tuesday on broad improvement in risk sentiment. 
 
Japanese Prime Minister Shinzo Abe ordered a new round of fiscal stimulus spending, as expected, after an election victory on Sunday. His meeting with former U.S. Federal Reserve Chair Ben Bernanke, a proponent of &quot;helicopter money&quot; policies - printing money and directly handing it to the private sector to stimulate the economy - fuelled speculation that some of the stimulus plan could be funded by Bank of Japan easing. 
 
The European Central Bank is also widely expected to take a dovish stance when it holds its policy review a week later. 
 
&quot;After being faced with the prospect of a major slowdown in global activity in the wake of the Brexit vote, governments and central banks worldwide are now expected to do their utmost to reassure markets and provide stimulus,&quot; wrote Angus Nicholson, market analyst at IG in Melbourne. 
 
(Reuters)

Swift moves by the Conservative Party that see Theresa May replacing David Cameron as prime minister have helped fund a recovery

London: Stock markets traded within sight of their highest levels this year on Wednesday as the prospect of stimulative economic policy across the developed world eased immediate concern over Britain's vote to leave the European Union. The swift moves by the Conservative Party that see Theresa May replacing David Cameron as prime minister on Wednesday have helped fund a recovery that, aside from sterling itself, has wiped out the negative reaction to the June 23 vote. Asian markets outside Japan gained another third of a percent to come within a hair's breadth of the year's highs from April, while European shares rose 0.2 percent, on course for their fifth straight day of gains. Traders say that concerns over the economic and political impact of what promise to be torturous exit talks between London and Brussels have not gone away, but they are certainly on the back burner for a moment. U.S. stock futures showed Wall Street set to build further on record highs hit on Tuesday. Expectations that sterling's fall will help British companies has London's FTSE index at its highest since last August. "This is a short term relief rally thanks to some certainty around the swift handover to a new PM," said Tobias Davis, Head of Corporate Treasury Sales at Western Union in London. "The path ahead still looks incredibly challenging. Equities are only rallying thanks to negative yields across most of the curve in Swiss, German and Japanese markets. In reality, the economic landscape is deteriorating." Sterling, whose 14 percent fall made it one of the main victims of last month's referendum, hit its highest in more than a week at $1.3340. But for every blip higher for the pound at the moment there are more sellers ready to bet it will fall further in the months ahead and it quickly fell back to stand just 0.2 percent stronger on the day at $1.3280. The yen, investors' go-to currency in times of market stress was also up half a percent against the euro and dollar after falling sharply on the back of Japan's move into another round of stimulative policy. The debate among currency traders around Thursday's Bank of England meeting is also now not whether it will cut interest rates but by how much -- some measure of the concern over the economy's fate for the rest of the year. "I'm struck at the enthusiasm of all and sundry to tell us that European and U.S. growth rates will hardly be affected by the UK post-referendum slowdown," Societe Generale's Kit Juckes said in a note to clients. "That flies in the face of the increased correlation of major economies' growth rates in an ever more connected world." Stimulus In commodities, oil prices dropped after industry group American Petroleum Institute (API) reported a surprise build of 2.2 million barrels in US crude stockpiles last week. [O/R] Brent crude futures fell 1.6 percent to $47.71 after surging roughly 5 percent on Tuesday on broad improvement in risk sentiment. Japanese Prime Minister Shinzo Abe ordered a new round of fiscal stimulus spending, as expected, after an election victory on Sunday. His meeting with former U.S. Federal Reserve Chair Ben Bernanke, a proponent of "helicopter money" policies - printing money and directly handing it to the private sector to stimulate the economy - fuelled speculation that some of the stimulus plan could be funded by Bank of Japan easing. The European Central Bank is also widely expected to take a dovish stance when it holds its policy review a week later. "After being faced with the prospect of a major slowdown in global activity in the wake of the Brexit vote, governments and central banks worldwide are now expected to do their utmost to reassure markets and provide stimulus," wrote Angus Nicholson, market analyst at IG in Melbourne. (Reuters)

Brexit, what Brexit? Global shares near 2016 highs

<blockquote class="twitter-tweet" data-lang="en">
One in three Americans will suffer type 2 diabetes by 2050. These superfoods can save us <a href="https://t.co/S3aVNdDsUw">https://t.co/S3aVNdDsUw</a>
&mdash; Salon.com (@Salon) <a href="https://twitter.com/Salon/status/736464526636371968">May 28, 2016</a></blockquote>

<script async src="~/platform.twitter.com/widgets.js" charset="utf-8" type="text/javascript"></script>Drugmakers are renewing efforts to develop medicines to fight emerging antibiotic-resistant bacteria, but creating new classes of drugs on the scale needed is unlikely to happen without new financial incentives to make the effort worth the investment, companies and industry experts said. 
 
 
dna &rlm;@dna 3m3 minutes ago WHO rejects call for Olympics to moved due to #ZikaVirus

American military researchers on Thursday announced the first U.S. case of a patient with an infection found to be resistant to the antibiotic colistin, the drug often held in reserve for when all else fails.

That put a spotlight on the urgent need for new medicines that can combat what health officials have called &quot;nightmare bacteria.&quot;

Drugmakers on Friday acknowledged that in the absence of a new way of compensating them, it simply does not make economic sense to pour serious resources into work on new antibiotics.

&quot;The return on investment based on the current commercial model is not really commensurate with the amount of effort you have to put into it,&quot; said David Payne, who heads GlaxoSmithKline PLC&#39;s (<a href="http://www.reuters.com/finance/stocks/overview?symbol=GSK.L">GSK.L</a>) antibiotics drug group.

Other pharmaceutical companies expressed a similar sentiment.

In January, some 80 drugmakers and diagnostics companies, including Pfizer Inc (<a href="http://www.reuters.com/finance/stocks/overview?symbol=PFE.N">PFE.N</a>), Merck &amp; Co (<a href="http://www.reuters.com/finance/stocks/overview?symbol=MRK.N">MRK.N</a>), Johnson &amp; Johnson (<a href="http://www.reuters.com/finance/stocks/overview?symbol=JNJ.N">JNJ.N</a>) and Glaxo, signed a declaration calling for cooperation among governments and companies to create incentives to revitalize research and development of new antibiotics.

It proposed a new business model in which profit would not be linked to higher sales. For example, governments and health organizations could offer lump-sum rewards for development of a successful new antibiotic. A British government panel suggested this month that drug companies be offered up to $1.5 billion for successful development of a new antibiotic.

In the United States alone, antibiotic-resistant bacteria causes 2 million serious infections and 23,000 deaths annually, according to U.S. health officials.

<div class="row">
<div class="article-blockquote">
<div class="col-sm-10 col-sm-offset-1 blockquote-content quoteshare">
<blockquote>
<h5>Drug companies can&#39;t make an economic case for investing in superbug drugs</h5>
</blockquote>
</div>

<div class="col-sm-1 blockquote-content">
<div class="share-blockquote"><a an="" case="" class="twitter popup" drugs="" economic="" for="" href="http://twitter.com/intent/tweet?text=Drug companies can" in="" investing="" make="" superbug="" t="">&nbsp;</a></div>
</div>
</div>
</div>

 
Unrestrained overuse of current antibiotics by doctors and hospitals, often when they are not needed, and widespread antibiotic use in food livestock have contributed to the evolution of antibiotic-resistant bacteria.

But in recent years, major drugmakers have poured most of their research dollars into highly profitable medicines to fight cancer, rare diseases and hepatitis C. These drugs not only command high prices, they also are typically used far longer than antibiotics.

And the companies, which have come under intense criticism in recent months for continually raising prices on popular drugs, say it costs about as much to develop a new antibiotic as it does to bring to market new cancer drugs that can command more than $100,000 a year per patient.

&quot;Drug companies can&#39;t make an economic case for investing in superbug drugs,&quot; said Erik Gordon, a professor at the University of Michigan&#39;s Ross School of Business.

Gordon said governments and foundations need to get more involved in research and funding to spearhead efforts to combat the problem.

To critics who argue that U.S. companies have enormous cash reserves that could be used to address a public health crisis, drugmakers say they have a fiduciary duty to shareholders to maximize profits.

&nbsp;

ON THE R&amp;D FRONT LINES

One reason companies are calling for alternative compensation is that aggressive sales and use of new antibiotics could help create ever more dangerous bacteria that develop resistance to the new medicines.

Glaxo and Merck are among the large pharmaceutical companies developing new antibiotics they hope can beat back resistant bugs, while Pfizer is working on vaccines aimed at reducing the need for their use.

Industry experts said small, lesser-known companies with promising approaches to tackling resistant superbugs included: Entasis Therapeutics, an AstraZeneca PLC spinoff, Tetraphase Pharmaceuticals Inc (<a href="http://www.reuters.com/finance/stocks/overview?symbol=TTPH.O">TTPH.O</a>); and Achaogen Inc (<a href="http://www.reuters.com/finance/stocks/overview?symbol=AKAO.O">AKAO.O</a>).

&quot;We believe plazomicin, our lead drug in late-stage development, has the potential to play an important role in treating this dreaded superbug,&quot; Achaogen Chief Executive Kenneth Hillan said.

Allan Coukell, an antibiotics expert at the Pew Charitable Trusts nonprofit research and policy organization, said what is needed is a wave of new drugs based on new chemistry or that work in new ways.

&quot;Most of what&#39;s being developed are variations on drugs that we&#39;ve had for decades,&quot; Coukell said.

Pew has outlined what its calls a scientific roadmap to create a body of work around new drug discovery that companies and academic researchers could draw upon to help jumpstart the process of finding new antibiotics.

Glaxo said its experimental antibiotic gepotidacin, in midstage testing, belongs to an entirely new class of antibacterials.

&quot;Based on that, we&#39;re predicting it would work against infections that could be caused by bacteria that are resistant to available antibiotics,&quot; Payne said.

Other companies with late-stage studies underway for antibiotics include: Cempra Inc (<a href="http://www.reuters.com/finance/stocks/overview?symbol=CEMP.O">CEMP.O</a>), whose drug was recently validated in a Japanese trial; Medicines Co (<a href="http://www.reuters.com/finance/stocks/overview?symbol=MDCO.O">MDCO.O</a>); and Paratek Pharmaceuticals Inc (<a href="http://www.reuters.com/finance/stocks/overview?symbol=PRTK.O">PRTK.O</a>). J&amp;J is also putting money into battling antibiotic resistance.

&quot;If there is a bright side, it is that the world policymakers and health leaders have focused on this issue like never before,&quot; Coukell said. &quot;But we&#39;ve got a long way to go.&quot;

&nbsp;

(Reporting by Bill Berkrot, Caroline Humer and Ransdell Pierson in New York and Natalie Grover and Amrutha Penumundi in Bangaluru; Editing by Eric Effron and Will Dunham)

Major drug companies seek enormous government subsidy to combat fatal bacteria they helped create

One in three Americans will suffer type 2 diabetes by 2050. These superfoods can save us https://t.co/S3aVNdDsUw — Salon.com (@Salon) May 28, 2016 Drugmakers are renewing efforts to develop medicines to fight emerging antibiotic-resistant bacteria, but creating new classes of drugs on the scale needed is unlikely to happen without new financial incentives to make the effort worth the investment, companies and industry experts said. dna ‏@dna 3m3 minutes ago WHO rejects call for Olympics to moved due to #ZikaVirus American military researchers on Thursday announced the first U.S. case of a patient with an infection found to be resistant to the antibiotic colistin, the drug often held in reserve for when all else fails. That put a spotlight on the urgent need for new medicines that can combat what health officials have called "nightmare bacteria." Drugmakers on Friday acknowledged that in the absence of a new way of compensating them, it simply does not make economic sense to pour serious resources into work on new antibiotics. "The return on investment based on the current commercial model is not really commensurate with the amount of effort you have to put into it," said David Payne, who heads GlaxoSmithKline PLC's (GSK.L) antibiotics drug group. Other pharmaceutical companies expressed a similar sentiment. In January, some 80 drugmakers and diagnostics companies, including Pfizer Inc (PFE.N), Merck & Co (MRK.N), Johnson & Johnson (JNJ.N) and Glaxo, signed a declaration calling for cooperation among governments and companies to create incentives to revitalize research and development of new antibiotics. It proposed a new business model in which profit would not be linked to higher sales. For example, governments and health organizations could offer lump-sum rewards for development of a successful new antibiotic. A British government panel suggested this month that drug companies be offered up to $1.5 billion for successful development of a new antibiotic. In the United States alone, antibiotic-resistant bacteria causes 2 million serious infections and 23,000 deaths annually, according to U.S. health officials. Drug companies can't make an economic case for investing in superbug drugs Unrestrained overuse of current antibiotics by doctors and hospitals, often when they are not needed, and widespread antibiotic use in food livestock have contributed to the evolution of antibiotic-resistant bacteria. But in recent years, major drugmakers have poured most of their research dollars into highly profitable medicines to fight cancer, rare diseases and hepatitis C. These drugs not only command high prices, they also are typically used far longer than antibiotics. And the companies, which have come under intense criticism in recent months for continually raising prices on popular drugs, say it costs about as much to develop a new antibiotic as it does to bring to market new cancer drugs that can command more than $100,000 a year per patient. "Drug companies can't make an economic case for investing in superbug drugs," said Erik Gordon, a professor at the University of Michigan's Ross School of Business. Gordon said governments and foundations need to get more involved in research and funding to spearhead efforts to combat the problem. To critics who argue that U.S. companies have enormous cash reserves that could be used to address a public health crisis, drugmakers say they have a fiduciary duty to shareholders to maximize profits. ON THE R&D FRONT LINES One reason companies are calling for alternative compensation is that aggressive sales and use of new antibiotics could help create ever more dangerous bacteria that develop resistance to the new medicines. Glaxo and Merck are among the large pharmaceutical companies developing new antibiotics they hope can beat back resistant bugs, while Pfizer is working on vaccines aimed at reducing the need for their use. Industry experts said small, lesser-known companies with promising approaches to tackling resistant superbugs included: Entasis Therapeutics, an AstraZeneca PLC spinoff, Tetraphase Pharmaceuticals Inc (TTPH.O); and Achaogen Inc (AKAO.O). "We believe plazomicin, our lead drug in late-stage development, has the potential to play an important role in treating this dreaded superbug," Achaogen Chief Executive Kenneth Hillan said. Allan Coukell, an antibiotics expert at the Pew Charitable Trusts nonprofit research and policy organization, said what is needed is a wave of new drugs based on new chemistry or that work in new ways. "Most of what's being developed are variations on drugs that we've had for decades," Coukell said. Pew has outlined what its calls a scientific roadmap to create a body of work around new drug discovery that companies and academic researchers could draw upon to help jumpstart the process of finding new antibiotics. Glaxo said its experimental antibiotic gepotidacin, in midstage testing, belongs to an entirely new class of antibacterials. "Based on that, we're predicting it would work against infections that could be caused by bacteria that are resistant to available antibiotics," Payne said. Other companies with late-stage studies underway for antibiotics include: Cempra Inc (CEMP.O), whose drug was recently validated in a Japanese trial; Medicines Co (MDCO.O); and Paratek Pharmaceuticals Inc (PRTK.O). J&J is also putting money into battling antibiotic resistance. "If there is a bright side, it is that the world policymakers and health leaders have focused on this issue like never before," Coukell said. "But we've got a long way to go." (Reporting by Bill Berkrot, Caroline Humer and Ransdell Pierson in New York and Natalie Grover and Amrutha Penumundi in Bangaluru; Editing by Eric Effron and Will Dunham)

Major drug companies claim it doesn't make economic sense to fight nightmare bacteria

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