Philippines Pilot Program Leads GSK To Lower Emerging Market Prices
This article was originally published in PharmAsia News
Executive Summary
A pilot program in the Philippines has convinced U.K.-based GlaxoSmithKline to lower the prices of some of its leading drugs in emerging markets of the world. CEO Andrew Witty said in an interview the price cuts also would increase GSK's global sales volume, one of the company's priorities. GSK is faced with efforts by other multinational drug makers to expand their business in the emerging markets, several through other business means such as acquisitions. The Philippines trial in which prices were reduced resulted in increased sales for GSK, but critics said most health care in the country is private, possibly skewing the benefits. (Click here for more