How GSK's access to medicine plans will shake up Big Pharma

Author: Oliver Balch, Ethical Corporation, Published on: 31 March 2009

Andrew Witty…the chief executive of…GlaxoSmithKline…has now sent out signals that could radically alter Big Pharma…GSK, he pledged, would slash prices for a host of medicines, share patents for dozens of compounds and invest in health infrastructure. In the world’s 50 least developed countries, GSK will cap prices for its drugs at 25% of their cost to rich nations… “I’ve never seen anything that looks so much like a systematic response to … things that people have been asking of the pharmaceutical industry for a long time,” [said Sophia Tickell, SustainAbility]…GSK admits it has much to do in the coming months to translate its commitments into practice. [also refers to Pfizer, Novartis, Merck, Aravind]

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Related companies: Aravind GlaxoSmithKline Merck Novartis Pfizer