Thursday, May 26, 2011

Profits and Good Deeds

GlaxoSmithkline, the large British drug company, is showing that it is possible to help those in dire need while still remaining a leading, highly profitable company.

Glaxo recently announced that it is cutting prices of “essential” drugs it sells in Kenya by 50 percent.  Sharply lower prices of antibiotics, asthma medicines, and dewormers will enable far more households to have access to such crucial medicines.

Glaxo plans to reduce the cost of its “essential” drugs in developing countries to as little as 25 percent of prices in the developed world.

Well done, Glaxo!

Steve Lehman

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