Thursday, April 30, 2009

GSK Offers 30-50% Price Reduction

Early last month, Glaxo-SmithKline (GSK) announced a price reduction on its most major brands. This is to expands Filipino access to its globally-trusted medicines. It has dropped the prices of most of its major medicines by 30 to 50 percent in a bid to make quality medicines affordable.

This is the first time the company embarked in this wide-ranging reduction not only in the country, but in other countries as well.

“GSK recognizes the need to improve patient access to the best quality medicines and have worked to help address this,”
said Roberto Taboada, GSK Philippines president and managing director.

Some of the medicines are for acute diseases including pneumonia, ulcer, bronchitis, hospital acquired infection, nausea and vomiting. Its cervical cancer vaccine continues to be available at a more affordable price, after it was reduced by as much as 60 percent in November 2008.

"...up to 40% of our people live on less than 2 dollars per day and are unable to afford essential drugs and medicines that they need in order to fight disease."
according to Secretary Francisco T. Duque III, MD, MSc. During the Launch of the Corporate Initiatives of Glaxo-SmithKline (GSK)

This is somehow a more expanded ValueHealth program. Value Health was a program initiated in 2004 by GSK, which offered significant price reductions for the company’s most widely prescribed treatments for cough, asthma and bacterial infections.
Other plans of Glaxo-SmithKline (GSK) global chief executive officer Andrew Witty includes drastically reducing prices in the 50 Least Developed Countries such as the Philippines.

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