GlaxoSmithKline is to cut significantly the prices of its medicine in emerging economies next spring.
“My preference is not a high price and 100 units of profit for 100 patients, but to drop the price and make 100 of profit from 500 patients,” Abbas Hussain, head of emerging markets at the UK pharmaceuticals company, said. “We fundamentally believe access for more of the masses is the way to go.”
The reductions – expected to reduce prices in most developing countries to below two-thirds of western prices – reflect intensifying efforts by drug companies to tap demand from the faster-growing economies as western markets stagnate.
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