Monday, July 6, 2015

Glaxo issues 2011 corporate responsibility report

GlaxoSmithKline explains how it is trying to be good citizen, with disclosures on payments to providers.

Glaxo issues 2011 corporate responsibility report

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GlaxoSmithKline issued its 2011 corporate responsibility report, which explains how the company says it is trying to be a good citizen in the world.

The report has philosophy, charts, graphs and tables that discuss money spent on health-care providers, individuals and groups, carbon footprint and world-wide immunizations for diseases in troubled spots.

The link to get to the report is here.

GSK chief executive officer Andrew Witty was allowed to add "Sir" to the front of his name after a nod from the queen, and that was achieved through world immunization programs and, perhaps, bringing jobs back to the United Kingdom, where GSK is based. The company has a Center City location (moving to the Navy Yard in 2013) and suburban Philadelphia locations.

"At GSK, we firmly believe that operating in a responsible and ethical way is essential for the success of our business," Witty said in a statement. "This underpins the way we work and how we develop our business model to ensure we deliver sustainable financial performance and provide shared value to patients, consumers and governments.

"Our record in 2011 shows that we are making good progress – forming agreements to increase access to our newest vaccines for children in the world’s poorest countries, committing to support new research efforts to tackle antimicrobial resistance and starting to deliver against our ambitious goals to reduce our environmental impact. But we are not complacent and we will continue to challenge ourselves in the coming months and years to do all we can to deliver for patients and society.”

As for corporate behavior, GSK noted that it had changed it compensation for sales representatives to lessen the value of individual drug sales by individual reps, which theoretically will lessen inappropriate writing of prescriptions. The report also notes the company announced that it reached a deal with the Justice Department to pay $3 billion to settle allegations related to the off-label marketing of several drugs, including Avandia. However, the Justice Department has not said a word on that supposed deal.

Meanwhile, as could be expected, some of the giving helps causes that promote work in areas that GSK sell medicine.

For example, the Joslin Diabetes Center got $560,304 in two chunks. The University of Nebraska Board of Regents' group that promotes age-appropriate vaccinations got $504,000.

Speaking of sales reps, the Supreme Court will hear oral argument Monday in the long-running suit over whether reps should be entitled to overtime. If usual form is followed, the Court would rule on that before its current session ends in June.

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About this blog
David Sell blogs about the region's pharmaceutical industry. Follow him on Facebook.

For Portions of this blog may also be found in the Inquirer's Sunday Health Section.

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