GlaxoSmithKline will reduce the cost of its medicines and patents to the world's poor, raising hopes that its rivals will follow suit, according to an article posted recently on Pharmiweb.
In a speech at Harvard Medical School on 13 February, the chairman of GSK, Andrew Witty, declared that his company would "earn its right to exist" 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 - 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 - 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's stance will spark a debate about "how much further industry can and should go" in promoting global health.
