GlaxoSmithKline

GlaxoSmithKline is a major pharmaceutical company in Britain, and in fact the largest pharmaceutical company in the world. It produces drugs, and ‘consumer health products’ such as Nicorette, Horlick’s (?not sure how this is a ‘consumer health product’), Lucozade and Ribena. is a major pharmaceutical company in Britain, and in fact the largest pharmaceutical company in the world. It produces drugs, and ‘consumer health products’ such as Nicorette, Horlick’s (?not sure how this is a ‘consumer health product’), Lucozade and Ribena.

GlaxoSmithKline actually makes it into the FTSE4good index, so there is clearly divided opinion as to its general rubbishness. However, it has been getting up to some pretty appalling stuff, so this might be a reflection on the accuracy of the FTSE4good criteria rather than anything else…

GlaxoSmithKline has been accused of fraudulent activities regarding its practices in presenting the results of drugs trials:

http://www.guardian.co.uk/leaders/story/0,3604,1237013,00.html

There are also issues relating to Glaxo’s use of vivisection, and poor environmental record – in 2001, Glaxo’s UK Ulverston plant released 773 tonnes of carcinogenic material into the environment – accounting for 10% of the national total emissions of such material that year.

However, far and away the worst crime on GlaxoSmithKline’s record dates from 1997, when they were among the pharmaceutical companies which blocked the South African Medicines Act. The pharmaceutical companies wanted to prevent South Africa from buying cheap generic versions of patented drugs, including AIDS drugs. Their legal challenge to the Act delayed the resolution of the issue until 2001. In the intervening years, 400 000 died from AIDS in South Africa.

It’s bad enough that Glaxo only devotes a tiny fraction of its resources into finding treatments for the diseases which blight the lives of millions in the developing world – diseases such as malaria. This in itself makes them a far from socially responsible company. It’s even more appalling to consider that at the same time as neglecting the diseases of the developing world, they actively tried to prevent South Africa from using a cheap source of drugs.

Posted on 09/05/05 by admin