Glaxo Proposes Patent Pool
By: Ainsley Brown
The world’s second largest drug maker, GlaxoSmithKline has proposed a voluntary patent pool for drug makers. The pool is intended to kick start the development of new treatments for neglected diseases such as malaria and cholera. By proposing and making its own patents available to third party researchers, Glaxo will be providing opportunities, “that might otherwise not happen,” says its CEO Andrew Witty.
Now it will be up to the other drug makers to follow suit and expand the pool as much as possible.
Additionally, Glaxo also announced that it will invest 20% of its profits made in least developed countries towards building healthcare clinics and other infrastructure in those countries.
All around: well done Glaxo, well done.
