Kudos to drug giant GlaxoSmithKline, the world's second-largest pharmaceutical company, for a radical shift in strategy that is anticipated to stun the industry. The new head of GSK Andrew Witty, in an article in The Guardian:
Excerpt:
He said that GSK will:
• Cut its prices for all drugs in the 50 least developed countries to no more than 25% of the levels in the UK and US – and less if possible – and make drugs more affordable in middle-income countries such as Brazil and India.
• Put any chemicals or processes over which it has intellectual property rights that are relevant to finding drugs for neglected diseases into a "patent pool", so they can be explored by other researchers.
• Reinvest 20% of any profits it makes in the least developed countries in hospitals, clinics and staff.
• Invite scientists from other companies, NGOs or governments to join the hunt for tropical disease treatments at its dedicated institute at Tres Cantos, Spain.
Comment:
It is the shift in view of intellectual property that is likely to be seen as most radical by other drug companies - and most transformative from the author's point of view, as an early example of what may become the corporation of the commons: leading in both innovation and responsibility. Is this approach the perfect solution? It is far too soon to tell. There is room for criticism - what impact will this have on current approaches to generic drugs in the developing world, for example. Nevertheless, it is a bold move, and a huge leap in the right direction.
Thanks to Gavin Baker on Open Access News.
This post is part of the Creative Globalization series.
