Wednesday, October 25, 2006

GlaxoSmithKline CEO says drug law will 'restructure' Ontario drug market

From CBC News:
New legislation in Ontario designed to curb the price of prescription drugs through bulk discounts will scare away investors by creating a "transactional relationship" between government and drug developers, the head of GlaxoSmithKline Inc.'s (NYSE:GSK) Canadian operations said Tuesday.

The Transparent Drug System for Patients Act will have a ripple effect across the country by encouraging the use of copy-cat medication and cutting into drug company revenues, Paul Lucas said in a speech to pharmaceutical investors in Toronto. ...more

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