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Drug giant GlaxoSmithKline pledges cheap medicine for world's poor

Author: Sarah Boseley, Guardian [UK], Published on: 13 February 2009

The world's second biggest pharmaceutical company is to radically shift its attitude to providing cheap drugs to millions of people in the developing world. In a major change of strategy, the new head of GlaxoSmithKline, Andrew Witty, has [said] he will slash prices on all medicines in the poorest countries, give back profits to be spent on hospitals and clinics and – most ground-breaking of all – share knowledge about potential drugs that are currently protected by patents...He challenges other pharmaceutical giants to follow his lead...Campaigners gave a cautious welcome to GSK's strategy. But Oxfam and Médecins Sans Frontières both said the company should go further and include HIV drugs in the patent pool...

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Related companies: GlaxoSmithKline