Glaxo Sees Emerging Market Price Cuts Driving Drug Volume Growth
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GlaxoSmithKline Plc, the U.K.’s biggest drugmaker, said price cuts will accelerate volume sales of its medicines in emerging markets led by China as the company extends its reach to less well-off patients.
Unit sales of Glaxo’s Avamys nasal spray for allergies jumped almost five-fold in emerging markets in the two years since price reductions were introduced in 2009, according to the London-based company’s annual report. Revenue from Avodart, a treatment for enlarged prostate glands, gained 76 percent over the same period.