GSK to re-invest 20pc of its profits in Bangladesh
GlaxoSmithKline (GSK) Bangladesh will re-invest 20 per cent of its profits made in the least developed countries (LDCs) including Bangladesh into projects every year to address healthcares challenges.
As part of the policy it will re-invest 1.0 million pound this year in Bangladesh in a bid to improve the healthcare infrastructure in the remotest areas of the country.
GSK will also price its products such as medicines and vaccines including latest research products at no more than 25 per cent of the West European average.
Duncan Learmouth, Senior Vice President Developing Countries and Market Access Business Unit, GSK UK and Chairman of GSK, Bangladesh, announced its global commitments of re-investment and action for access at a press conference held Thursday in the city.
"Improving access to healthcare around the world is vitally important to us and we hope to achieve this in Bangladesh like LDCs by setting prices at levels that reflect the value delivered and ability of people to pay and by re-investing 20 per cent of GSK Bangladesh's profits to improve the healthcare infrastructure in the remotest areas of the country," he said.
Recognizing that pricing is sometimes a barrier to access GSK medicines and vaccines especially the recent innovations, we are introducing the new policy pricing for access for the developing world including Bangladesh, he explained.
GSK has formed a new partnership with three leading NGOs to deliver the re-investments in LDCs and they are AMREF in East and Southern Africa, CARE international UK in Asia pacific and Save the Children in West Africa, he added.
"The focus of the investment will be to improve health outcomes by supporting front line health works to operate in these countries," Mr Duncan said.
GSK has formed a new business unit "Developing Countries and Market Access (DCMA) with 50 countries of East and West Africa and Asia to take the "Action for Access" initiatives further.
The primary partner for implementing the 20 per cent re-investment project in Bangladesh will be CARE Bangladesh, M Azizul Huq, managing director of GSK Bangladesh said.
Though it will decrease the price, it will ensure the quality of products, he said.
Beside CARE, GSK Bangladesh will also be supporting some other initiatives, he said adding one of such early initiative is partnering which a local NGO "Friendship" in their innovative mobile-health project which supports building capacity of the field level health workers in the 'Chare areas' of the country.
He also said in line with the access initiatives policy on pricing, from August onwards, GSK Bangladesh will be making a downward readjustment of 12-61 per cent in prices of some of its medicines and vaccines.
Mr Huq said the price of survival cancer vaccine will be only Tk 1400 which is Tk 3600.
Explaining the healthcare infrastructure, he said GSK will provide support to empower and trained the healthcare workers.
In 2010 GSK's sales stood at 28.4 billion euros and 24 per cent of which comes from the emerging markets.
Replying to a question, Mr Huq said Glaxo, a listed company in the Bangladesh stock market has no plan to increase the number of its public shares which is only 4.06 per cent at present while the sponsors or directors share is about 81.98 per cent.
GlaxoSmithKline (GSK) Bangladesh will re-invest 20 per cent of its profits made in the least developed countries (LDCs) including Bangladesh into projects every year to address healthcares challenges.
As part of the policy it will re-invest 1.0 million pound this year in Bangladesh in a bid to improve the healthcare infrastructure in the remotest areas of the country.
GSK will also price its products such as medicines and vaccines including latest research products at no more than 25 per cent of the West European average.
Duncan Learmouth, Senior Vice President Developing Countries and Market Access Business Unit, GSK UK and Chairman of GSK, Bangladesh, announced its global commitments of re-investment and action for access at a press conference held Thursday in the city.
"Improving access to healthcare around the world is vitally important to us and we hope to achieve this in Bangladesh like LDCs by setting prices at levels that reflect the value delivered and ability of people to pay and by re-investing 20 per cent of GSK Bangladesh's profits to improve the healthcare infrastructure in the remotest areas of the country," he said.
Recognizing that pricing is sometimes a barrier to access GSK medicines and vaccines especially the recent innovations, we are introducing the new policy pricing for access for the developing world including Bangladesh, he explained.
GSK has formed a new partnership with three leading NGOs to deliver the re-investments in LDCs and they are AMREF in East and Southern Africa, CARE international UK in Asia pacific and Save the Children in West Africa, he added.
"The focus of the investment will be to improve health outcomes by supporting front line health works to operate in these countries," Mr Duncan said.
GSK has formed a new business unit "Developing Countries and Market Access (DCMA) with 50 countries of East and West Africa and Asia to take the "Action for Access" initiatives further.
The primary partner for implementing the 20 per cent re-investment project in Bangladesh will be CARE Bangladesh, M Azizul Huq, managing director of GSK Bangladesh said.
Though it will decrease the price, it will ensure the quality of products, he said.
Beside CARE, GSK Bangladesh will also be supporting some other initiatives, he said adding one of such early initiative is partnering which a local NGO "Friendship" in their innovative mobile-health project which supports building capacity of the field level health workers in the 'Chare areas' of the country.
He also said in line with the access initiatives policy on pricing, from August onwards, GSK Bangladesh will be making a downward readjustment of 12-61 per cent in prices of some of its medicines and vaccines.
Mr Huq said the price of survival cancer vaccine will be only Tk 1400 which is Tk 3600.
Explaining the healthcare infrastructure, he said GSK will provide support to empower and trained the healthcare workers.
In 2010 GSK's sales stood at 28.4 billion euros and 24 per cent of which comes from the emerging markets.
Replying to a question, Mr Huq said Glaxo, a listed company in the Bangladesh stock market has no plan to increase the number of its public shares which is only 4.06 per cent at present while the sponsors or directors share is about 81.98 per cent.
Comments
Post a Comment