BIG Pharma has a heart after all. GlaxoSmithKline will slash the cost of its medicines and patents to the world鈥檚 poor, raising hopes that its rivals will follow suit.
In a at Harvard Medical School on 13 February, the chairman of GSK, Andrew Witty, declared that his company would 鈥渆arn its right to exist鈥� by meeting the expectations of society, not just shareholders. He said that GSK would cut the prices of all its medicines in 50 poor countries 鈥� to no more than 25 per cent of the price in wealthy nations. The company will also provide free access to its patents relating to neglected diseases 鈥� those into which there is a lack of current research.
Oxfam spokesman Rohit Malpani urged other companies to emulate GSK, but would like to see the company free up its anti-HIV medication patents as well. Richard Barker of the Association of the British Pharmaceutical Industry says GSK鈥檚 stance will spark a debate about 鈥渉ow much further industry can and should go鈥� in promoting global health.
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