GSK cuts price of drugs in US

GlaxoSmithKline is to cut the price of its drugs for elderly people on low incomes in the US.

GSK’s Orange Card programme will allow elderly people with annual incomes below £17,500 ($26,000) and no health insurance cover to claim 30 per cent off prescription medicines.

In a separate move, the pharmaceuticals company has announced that it will waive its patent rights in South Africa to allow a local company to make low-cost versions of its Aids drugs.