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GlaxoSmithKline
Investor ask pharma company to lower AIDS drug prices
May 14th, 2003
The mammoth California Public Employees Retirement System (CalPERS) - which holds nearly $760 million in GlaxoSmithKline (GSK) stock - voted unanimously to send a letter to Glaxo CEO Jean-Paul Garnier encouraging Glaxo to evaluate their humanitarian programs regarding AIDS drug access in the developing world and to study the voluntary licensing of generic versions of Glaxo's life-saving AIDS drugs. In a 13-to-0 voice vote at the Investment Committee meeting in Sacramento, the CalPERS Committee instructed staff to send the letter regarding AIDS drug pricing and policies to Glaxo. The letter also raises the concern that Glaxo's "corporate behavior" in response to the AIDS...
Source: Biotech Week (2003-05-14)
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