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MarketScreener Homepage  >  Equities  >  London Stock Exchange  >  GlaxoSmithKline plc    GSK   GB0009252882

GLAXOSMITHKLINE PLC

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GlaxoSmithKline : Activists urge 'Big Pharma' to be transparent on COVID-19 vaccine costs

10/29/2020 | 01:25pm EST
FILE PHOTO: A woman holds a small bottle labeled with a

GENEVA (Reuters) - Activists called on pharmaceutical companies on Thursday to be transparent about the costs and terms of providing COVID-19 vaccines, saying they must be available and affordable for all.

French drugmaker Sanofi and Britain's GlaxoSmithKline said on Wednesday they would supply 200 million doses of their COVID-19 candidate vaccine to the global COVAX vaccine facility backed by the World Health Organization (WHO) and the GAVI vaccine alliance.

Medecins Sans Frontieres (Doctors Without Borders) demanded the two companies provide details around price, supply and distribution of any vaccine proven safe and effective.

"Pharmaceutical corporations Sanofi and GSK must sell their vaccines at-cost and open their books to show the public exactly how much it costs to make the vaccine," said Kate Elder, senior vaccines policy adviser at MSF's Access Campaign.

"There is no room for secrets during a pandemic and past experience tells us that we can't take pharma at their word without data to back up their claims," she said in a statement.

Sanofi spokesman Nicolas Kressmann said in a response to Reuters: "Sanofi and GSK will apply a tiered pricing for COVAX, whereby lower income countries are intended to pay significantly lower prices for the adjuvanted vaccine than higher income countries.

"The details of the contracts and discussions we are engaged in are confidential," he added.

No company has shared information on research and development, clinical trials or manufacturing costs of potential COVID-19 vaccines, MSF said, adding this was vital for the public to assess prices set.

More than half of the expected volume of doses of leading candidate vaccines has been bought up by 13% of the world, mainly high-income countries, the medical charity said.

Human Rights Watch, in a separate report, said governments funding vaccines with public money should be transparent about terms and conditions attached.

The New York-based group urged states to back a proposal by India and South Africa to wave some aspects of intellectual property (IP) rules on patents to enable large-scale manufacturing and affordability.

A temporary IP waiver was debated this month in the World Trade Organization (WTO), but was opposed by the United States, European Union, Britain, Switzerland and others.

"In these difficult times the best health technologies and discoveries cannot be reserved only for a few, they must be available to all," WHO director-general Tedros Adhanom Ghebreyesus said at a UNESCO event on "Open Science" on Tuesday.

"Sharing data and information that is often kept secret or protected by intellectual property could significantly advance the speed at which technologies are developed," Tedros added.

(Additional reporting by Matthias Blamont in Paris; Editing by Mark Potter and David Evans)

By Stephanie Nebehay


© Reuters 2020
Stocks mentioned in the article
ChangeLast1st jan.
GLAXOSMITHKLINE PLC 0.93% 1394.2 Delayed Quote.-22.37%
SANOFI -0.11% 84.06 Real-time Quote.-6.16%
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Sales 2020 34 219 M 45 621 M 45 621 M
Net income 2020 4 855 M 6 473 M 6 473 M
Net Debt 2020 22 921 M 30 558 M 30 558 M
P/E ratio 2020 14,0x
Yield 2020 5,79%
Capitalization 68 742 M 92 309 M 91 647 M
EV / Sales 2020 2,68x
EV / Sales 2021 2,54x
Nbr of Employees 99 437
Free-Float 92,3%
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Average target price 1 712,02 GBX
Last Close Price 1 381,00 GBX
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Emma N. Walmsley Chief Executive Officer & Executive Director
Jonathan Richard Symonds Non-Executive Chairman
Iain James Mackay Chief Financial Officer & Executive Director
Karenann K. Terrell Chief Digital & Technology Officer
Hal V. Barron Executive Director & Chief Scientific Officer
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