Researching the Access to Medicine Index

The Access to Medicine Index is based upon extensive research involving numerous interviews, corporate documents and information sources available in the public domain.

All research is carried out under the auspices of the Access to Medicine Foundation by Innovest Strategic Value Advisors. Innovest draws on extensive expertise in developing and carrying out an objective and reliable evaluation system. The company is also closely involved with the Carbon Disclosure Project, which aims to highlight companies’ efforts to help prevent climate change.

To establish companies’ performance within the framework of the Access to Medicine Index, Innovest first carries out a detailed analysis of a company’s business model (disease focus and product pipeline). This helps to identify what can realistically be expected from companies with regards to the criteria of the Index.

Innovest subsequently carries out the following activities:

Data gathering

• Corporate documents: annual reports, environmental and social reports, securities filings, 10k and other, websites, etc.
• Government data: publications, databases and interviews with governmental officials, e.g. the Center for Responsive Politics (Public Policy Influence & Advocacy), the US National Institutes of Health (R&D and Clinical Trials), FDA (drug quality and promotion), EMEA, WHO (Registration), WTO (Compliance with TRIPS), DFID (Meta).
• On-line news databases: Factiva.
• Industry sources: pharmaceutical industry publications and reports, eg. IFPMA, ABPI, PhRMA, EFPIA, NEFARMA, LEEM. Trade journals, e.g. BioExecutive, PharmaFocus, Pharmaceutical Executive, Pharmatimes.
• NGOs and non-profit organizations: reports and interviews with organizations familiar with the companies’ operations and any controversy they may have caused, or could potentially cause (e.g Oxfam, MSF, SOMO, Healthy Skepticism, Tax Payers Against Fraud Educational Fund)
• Other third-party sources: reports and interviews with the stakeholders we consulted during the development of the Index framework including investors, consultants and academics.
• Company executives: It is not the intention to request that companies collect the data for all metrics, as this may be too burdensome. Only specific information will be sought from company representatives where there are gaps in data or inconsistencies among the above mentioned sources. Companies will be provided with a draft analysis prior to publication of the Index for the purpose of factual accuracy.

Data analysis

Innovest thoroughly analyzes the data that is collected and weighs all relevant factors that make up a company’s performance towards improving access to medicine. For example, for generic companies with no or limited R&D capability, the R&D criterion will be zero weighted and their R&D section would be distributed across the seven other criteria.

Evaluation and annual review

The Access to Medicine Index methodology will continue to evolve over the coming years in response to stakeholder feedback and market developments. The review process will include reviews of the criteria, indicators, metrics and weightings. The evaluation process will be overseen by the Index Executive Committee of the Access to Medicine Foundation.