Dear All (and with thanks to Damiano for taking the lead on this newsletter), We start the new year with good news from Rome! On Saturday 28 December 2024, the Italian Senate passed the government’s 2025 budget, giving parliament’s final approval to a financial package which includes a pull incentive for innovative antibiotics. As promised by Minister of Health Orazio Schillaci at the G7 Health Ministers’ Meeting in October 2024, Article 49 of the 2025 Italian budget law provides that new and recently-approved anti-infectives listed as Reserve under the AWaRe classification of the World Health Organization (WHO) or targeting pathogens included in the WHO bacterial priority pathogens list will gain direct access to the national Fund for Innovative Oncological and Non-Oncological Medicines. Within the Fund, up to EUR 100 million a year will be available to cover the reimbursement of these important antibiotics. Direct access to this Fund includes additional benefits, such as immediate access to regional markets and exemption from the payback mechanism if the national pharmaceutical expense cap is exceeded. Moreover, access to the Fund is guaranteed “until the expiration of the patent coverage or the regulatory data protection period.” Assuming that 4-5 antibiotics should get direct access to the fund in...