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GSK cuts HIV drug prices

GlaxoSmithKline has announced that it is cutting the prices of drugs and treatments used to combat HIV in third world countries.

GlaxoSmithKline (GSK) has announced that it is cutting the prices of drugs and treatments used to combat HIV in third world countries.

Ziagen, which the World Health Organisation (WHO) considers a first and second line regimen, will receive a 40 percent price reduction.

GSK has made significant improvement to manufacturing efficiency that has enabled them to cut the costs of drugs essential in combating the devastating effects of HIV.

CEO of GSK, JP Garnier, said: "This further reduction in pricing of our HIV medicines demonstrates GSK's ongoing commitment to patients in the world's poorest countries."

On average, prices for GSK's 14 specified not-for-profit antiretrovirals will immediately go down by 21 percent, and the savings will be passed onto public sector and developing nation customers.

Garnier said: "I have seen for myself the devastating impact of HIV/AIDS, and the continued response of the global community to this epidemic is vital."

In 2001 GSK became a founding member of the Accelerating Access Initiative (AAI), which was created to ensure greater intervention in the fight against HIV/Aids.

Finance minister for South Africa, Trevor Manuel, has also pledged his nations continued support by promising to spend an extra $269.4 million on HIV/Aids prevention over the next three years.

20th February 2008

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