AEGiS-Chicago Tribune: Drugmakers are targets, often on AIDS drug prices

Important note: Information in this article was accurate in 2005. The state of the art may have changed since the publication date.

Drugmakers are targets, often on AIDS drug prices

Chicago Tribune - June 12, 2005
Bruce Japsen, bjapsen@tribune.com

Representatives of the Interfaith Center on Corporate Responsibility routinely raise questions about drug prices, particularly those charged to poor countries in Africa where large populations have been ravaged by AIDS.

While Abbott Laboratories and other brand-name makers of AIDS drugs have been hailed around the world for some of their efforts, they still face criticism, some of it based on inaccurate information.

For example, at Abbott's annual meeting in April, Sister Doris Gormley of the Maryland Province of the Society of Jesus, an Interfaith Center member, said the company needs to invest in pediatric formulations of its HIV drugs.

CEO Miles White explained that Abbott already has formulations for children, and that its AIDS drugs are priced below cost in Africa.

Further, White suggested to Sister Gormley that Interfaith give its shares to poor African countries and he would still allow the group to come to Abbott's annual meeting each year and advocate for its causes. He also suggested she take on the generic drugmakers, which are not known for charitable efforts in Africa.

MILES: "Why don't you challenge the generics also?"

SISTER GORMLEY: "We're not shareholders in the generic companies."

MILES: "Do you have to be a shareholder to advocate? You don't have to be a shareholder to talk to us."

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