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Article

31 Mar 2009

Author:
Oliver Balch, Ethical Corporation

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

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]