Wednesday, October 31, 2012

Glaxo threatens Govts with 'unintended consequences' | Irish Examiner

Drugs giant GlaxoSmithKline today called on European governments to halt aggressive price cuts on medicines or suffer “unintended consequences”. The group warned that austerity drives across Europe, which have seen medicine prices slashed by more than 7%, will impact the development of new drugs across the continent.Glaxo issued the warning as it announced moves to overhaul its European business to weather difficult trading conditions. It said it was unclear if there would be any impact on jobs and would give further details of the review before the end of the year. But it stressed it continued to expect to increase staff numbers over the next two years in the UK, where it is headquartered and currently employs around 15,000 people.

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