06 Jun '11, 3am

GlaxoSmithKline to slash price of diarrhoea vaccine by 95% for the world's poorest nations: CEO

GlaxoSmithKline to slash price of diarrhoea vaccine by 95% for the world's poorest nations: CEO

A health worker draws a dosage of vaccine into a syringe. -- PHOTO: REUTERS LONDON - BRITISH drugmaker GSK will cut 95 per cent off the price of a diarrhoea vaccine for the world's poorest nations, potentially saving hundreds of thousands of lives, the company's CEO said on Monday. GlaxoSmithKline boss Andrew Witty urged fellow drug companies to behave 'in step with society' and vowed the rotavirus vaccine price cut was 'not a gimmick or one-off philanthropic gesture' in Monday's Times newspaper. Rotavirus causes chronic diarrhoea and is estimated to kill more than half a million children each year, mainly in Africa and Asia. Under GSK's new pricing structure, the poorest nations will be able to buy a dose of the Rotarix vaccine for 1.50 pounds (S$3), five per cent of the 30 pound western price. 'To be successful in the long term, we have to operate in a way that is in ste...

Full article: http://www.straitstimes.com/BreakingNews/World/Story/STIS...

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