CSR News Stories
US: GlaxoSmithKline boss promises company has changed after $3bn mis-selling fine
Andrew Witty, CEO of global pharmaceutical giant GlaxoSmithKline, has expressed his regret over the unacceptable practices of the past which led to the company receiving a record $3bn fine in the US for selling drugs for unapproved uses amongst other breaches.
Drug companies cut vaccine prices in search of a more humane business model
Several major pharmaceutical companies have announced major cuts in the price for their vaccines in the developing world ahead of a conference in London.
US: Former GlaxoSmithkline executive charged as law targets individuals
The Justice Department has charged a former vice president of pharmaceutical giant GlaxoSmithkline with obstructing an investigation into illegal marketing of the company's drug Wellbutrin. The move is attracting attention because it signals a shift in government focus from suing the companies to one that targets individual executives.
US: GlaxoSmithKline could face $6bn risk over diabetes drug Avandia
Following biting criticism of its conduct by the Senate finance committee, GlaxoSmithKline is facing a possible flood of lawsuits - as many as 13,000 - with a potential combined liability of $6bn.
UK: GlaxoSmithKline targets low cost vaccine for malaria
GlaxoSmithKline has said that it will aim to keep prices for its planned malaria vaccine low - taking only a five percent profit on manufacturing costs - in order to make it available to poor communities where it is needed. The company has also put into the public domain thousands of potential drugs that might help spark future non-profit research into the disease.
Kenya: GlaxoSmithKline agrees HIV royalty-free licensing to get medicines to the poor
Pharmaceutical giant GlaxoSmithKline has said that it is to give South African firm Aspen the rights to manufacture HIV drug abacavir royalty-free as part of its drive to get medicines more accessible to the poor.
Novartis nears swine flu vaccine but won't donate any to developing countries
Swiss pharmaceutical group Novartis drew unfavourable comparisons with its competitors GlaxeSmithKline and Sanofi by saying it would not donate swine flu vaccine to the World Health Organisation for poorer nations in the event of it making the breakthrough.
GlaxoSmithKline makes major shift on drug prices in developing countries
The new CEO of pharmaceutical giant GlaxoSmithKline, Andrew Witty, has said that the company will slash prices on all medicines in the poorest countries, give back profits to be spent on health care, and shake up the patent protection covering potential drugs that could be developed.
US: Voluntary ban on pharma gifts to doctors begins
From January 1st, the US pharmaceutical industry is observing a voluntary end to the distribution of branded office items to doctors. The items, ranging from mugs and pens through to items such as computer flash drives and laser pointers, were criticised as representing the industry's attempt to influence which drugs get prescribed.
Drug companies promise investment in AIDS research
UN Secretary General Ban Ki-moon has said that some of the top pharmaceutical firms have promised to make greater investments in research for treatments for AIDS with particular focus for poorer regions.
GlaxoSmithKline wins approval for bird flu vaccine
GlaxoSmithKline has been granted EU approval for a new vaccine designed to combat the feared outbreak of a human-spread variant of the H5N1 bird influenza.
Singapore: Drug companies urged to market responsibly
The Health Sciences Authority in Singapore has urged drug companies there to practice responsible marketing in how drugs are promoted to the public.
Iraq oil for food allegations hit pharma companies
GlaxoSmithKline and AstraZeneca have been approached by the UK's Serious Fraud Office following allegations of bribes paid to secure contracts in breach of Iraq's oil for food programme.
Pharmaceuticals: AIDS drug makers criticised for failing the challenge
Pharmaceutical companies are failing the communities they serve by their lack of collabroation over combination drugs, according to a new assessment by the Interfaith Centre on Corporate Responsibility (ICCR).
Thailand: GlaxoSmithKline faces protests over patent
Hundreds of Thais laid seige to GlaxoSmithKline's office in Bangkok to protest an application the company has put in for a patent on an AIDS drug that it is feared will raise costs.
GlaxoSmithKline focused on breakthrough over bird flu
GlaxoSmithKline has said that it believes it has developed a vaccine for the deadly strain of bird flu that may be able to be mass produced by next year.
Pharmaceutical companies attacked for irresponsible marketing
A new report by Consumers International has accused top European pharmaceutical companies of using irresponsible marketing to promote their products.
GlaxoSmithKline agrees disclosure on negative trials
GlaxoSmithKline has settled the lawsuit against it around accusations that it concealed studies showing that its drug Paxil had problems. The company has agreed to disclose information on all clinical studies of its drugs.
US: Pharmaceutical industry issues guidelines for research disclosure
The Pharmaceutical Research and Manufacturers of America (PhRMA) has launched new guidelines that call for the release of data from clinical trials, regardless of whether the results are favourable to the company commissioning the trials.
GlaxoSmithKline faces charges that it withheld key product information
GlaxoSmithKline has been accused of misleading consumers and effectively committing fraud by keeping quiet about clinical studies that suggested that the company's antidepressant Paxil may have issues around safety and effectiveness.
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Special Feature
Social responsibility and finance - on the precipice
In a recent article, the BBC's economics editor Robert Peston highlighted the fact that in 2012 the chances are that the economy - punch drunk as it is from the various flavours of debt crisis it has been pummelled with over the course of the year - will be hit by the collapse of a major bank and / or government.
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