United Kingdom – For a while now activists have been on Pharmaceutical companies to stop gouging prices. These high prices make is near impossible for poorer countries to afford these drugs or make them available at all. Recently GlaxoSmithKline (GSK) announced it would stop filing patents in roughly 50 of the least developed nations, and in 35 lower to middle income countries, GSK will patent drugs, but license them to generic manufacturers for a small royalty fee.
Why this Matters:
This is a pretty forward thinking move for a pharmaceutical company, but if this catches on this could go a long way to address access issues in poor countries with little or no access to sometimes life saving medications. It will take other big players in pharma to follow suit, but it is a necessary step in improving outcomes.
Want to read more about his this announcement. Visit GlaxoSmithKline.