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Glaxo's Witty Touts Innovation as Best Defense for Drug Prices

  • Innovative drugs may be best defense against payer pressure
  • Company won't chase expensive deals for late-stage assets

As the pharmaceutical industry faces mounting scrutiny over drug pricing, GlaxoSmithKline Plc Chief Executive Officer Andrew Witty touted innovation as the best defense and pledged to highlight a product pipeline next month that would help withstand pressure from payers.

About 80 percent of the U.K. drugmaker’s pipeline is made up of first-in-class candidates, including an antibiotic in a new drug category to be discussed at a research and development presentation for investors on Nov. 4, Witty said at an event in London late Thursday.