Around 85 international pharmaceutical, generics, diagnostics and biotechnology firms have urged governments and industry to take comprehensive action on drug-resistant infections called superbugs.
The firms have launched a joint declaration at the World Economic Forum in Davos, Switzerland, calling for collective action on antimicrobial resistance.
The Declaration on Combating Antimicrobial Resistance has been signed by 85 companies and nine industry associations from 18 countries.
Some of the commercial drug and diagnostic developers have also agreed on a common set of principles for global action to support antibiotic conservation and the development of new drugs, diagnostics, and vaccines.
The industry has urged governments across the globe to support companies to invest in the development of antibiotics, diagnostics, vaccines and other products to be used for the prevention and treatment of drug-resistant infections.
The signatory companies have urged the governments to collaborate with them to develop new and alternative market structures, which provide more dependable and sustainable market models for antibiotics.
The declaration has recommended certain measures for its signatories to take action on drug resistance, including reducing the development of drug resistance, increasing investment in R&D and improving access to high-quality antibiotics.
Nesta CEO and Longitude Committee member Geoff Mulgan said: "This declaration will greatly help the growing movement to tackle resistance to antibiotics, and boost the many firms and people working to win the Longitude Prize for a novel and rapid point of care diagnostic test, one of the crucial building blocks for an effective global strategy on AMR."