GlaxoSmithKline’s Kenyan Unit Will Cut Drugs Cost by 50 Percent, MD Masunga Says - (Bloomberg via NewsPoints Desk)

  • Bloomberg reported Tuesday that GlaxoSmithKline's Kenyan unit is to reduce prices of "essential" drugs by 50 percent to increase volumes, according to managing director John Musunga.
  • In 2009, the drugmaker cut the cost of some of its drugs by 10 percent, followed by a 40-percent reduction last year for the price of asthma medicine Avamys, which boosted sales by 60 percent, Musunga said.
  • "What that has shown us is that people like good-quality medicine, but are not able to afford it," he noted, adding that "we cannot afford to focus only on the high-income social groups."

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