Glaxo feeling charitable to the developing world

Andrew Witty, the new head of GlaxoSmithKline, the world’s second-largest pharmaceutical company, has promised to slash profit margins on drugs in the world’s poorest countries, then, reinvest some of those profits within those companies.

In the poorest countries, the price will be cut to no more than 25 percent of that in the US and UK, Witty said.

I don’t know where this comes from, but it puts other drug companies under the klieg lights.

That said, it’s not perfect; Witty didn’t include Glaxo’s AIDS drugs in the price cut.