Free Newsletter
GSK chief continues humanitarian crusade
If we had a chance to ask Andrew Witty (photo) one question, that question would be, "Are you for real?" We've watched as the GlaxoSmithKline CEO has cut off its funding for CME programs, promised to disclose its payments to doctors, limited its doc payments, donated 800 patents to an IP pool, promised to invest 20 percent of GSK profits into drugs for poor countries, and cut its prices for meds in the developing world.
And now, in a Guardian profile, Witty says he's encouraging Indian companies to knock off its on-patent meds for sale in poor countries, as long as they make quality products and asks GSK for a license, which it will give royalty-free. And he's calling on "every foreign company that makes profits in Uganda" to cut its prices there (and beyond; it's apparent that he means the developing world in general). "I don't just mean drug companies," he told the newspaper. "Everybody."
Witty readily admits that he's not losing much on his price cuts in the least-developed countries. Sales in Uganda, for instance, amount to less than $14.9 million, and profits less than half that. It's a mere drop in the $39.7 billion revenue bucket GSK carries. "It's the point of principle," he said. He even says there are things Glaxo could do to help combat the corruption and mismanagement that keeps drugs shipped to Africa from the village docs and clinics where they're needed. "We can't just sit back and say we developed a drug and for some reason which we're not going to spend the time to try and understand, nobody in Africa can get it," he told the paper. "I don't think that's an acceptable position to take."
Meanwhile, Witty has started a volunteering program within GSK, which allows about 100 employees at a time to work for an extended period for NGOs at home or abroad. ""[T]hey will come back with a broader view of the world, a more community view of the world, and I think that will change the culture of the company--for the good, actually." So, Andrew Witty. Are you for real? Or are you having us on, in a cynical attempt to polish GSK's image? We hope it's not the latter.
- read the Guardian profile
Related Articles:
GSK's Witty opts out of generics market
Witty: Diversifying and derisking GSK
Pharma CEOs mull industry "trust deficit'
Witty's first year a slow-but-steady progression
Just who is Glaxo's Andrew Witty?
Comments
I hope Witty is a trend setter for health care CEOs to follow who would emulate the mandate of early 1950's pharmas, to wit a Merck CEO who in effect stated that drug companies exist to help patients not to enrich stockholders. On the other hand, Witty's seeming generosity and empathy is diminished by the minimal impact on the Glaxo bottom line, making it look more like a PR stunt to impress the Obama team and the general public with these rather trivial gifts from this corporate Santa Claus in order to forestall greater losses from imposed government regulations and controls.
HR Biotech Consultant
Jeez, that's a little cynical. He can't help it that the company makes billions a year, in fact, that means he's doing something right. It's the principle of the thing.
Post new comment
Paid Research Reports
- The Specialty Pharma Market Outlook: Key players, new company growth models and emerging opportunities
- Investigating Clinical Trial Costs: Comparative analysis of trial cost components in key geographies
- Clinical Trial Recruitment Strategies: Optimizing patient recruitment and retention in late stage clinical trials
- Pipeline Insight: Therapeutic Cancer Vaccines - Prospect of first approval set to reinvigorate interest from major companies
- Stakeholder Opinions: Vaccines in Emerging Markets (Asia) - Opportunities in China, India, South Korea and Taiwan
- Big Pharma Performance Before, During and Beyond the Global Recession






SHARE
WITH: