GSK to provide cheap drugs to the developing world
GlaxoSmithKline, the world’s second biggest pharmaceutical company, is to provide cheap drugs to millions of people in the developing world. Andrew Witty, the new head of the company, has said he will cut prices on all medicines, including HIV treatments, in the 50 poorest countries to no more than 25 per cent of the levels in Britain and the US. The company will also give back 20 per cent of profits to be spent on hospitals and clinics and share knowledge about potential drugs currently protected by patents. Drug companies have been repeatedly criticised for failing to drop prices for HIV drugs as millions have died in Africa and Asia.
Tags: Biotechnology, Health, HIV/AIDS, Medicine, Science
