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GlaxoSmithKline CEO Andrew Witty on the company's new drug that was developed to reduce the risk of malaria.
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-- -- that is for sure will pharmaceutical giant GlaxoSmithKline dismayed -- big announcements.
At the gates malaria still on joining me now in a Fox Business exclusive is the CEO GlaxoSmithKline.
Andrew -- alright Andrew what's the latest on this GS -- RT SS drug it's RTS common assets the malaria drug what's the latest.
Saw this is a vaccine Chris -- -- vaccine designed to reduce the risk of malaria.
Particular among baby so that's going to be a big deal in -- like Africa in particular where right now around a hundred times -- -- -- children die a year from malaria.
What we announced today is this vaccine which we've been working on for 2530.
Years reduces the incidence of malaria by over half so it's a it's a big significant of an.
So how much do you sweat a moment like this could you just mentioned 2530 years billions of dollars invested in this drug.
Phase three trial mean if it fails or if there -- side effects boy that you're you're back to the drawing board aren't you.
But one of the tough things about being a CEO of a drug company is you sit there of the door open somebody walks in and indeed the Summers off a little bit about -- it can be tough.
Good news about just case we have third -- of these programs coming to an end over the next fifteen months out.
This is wall in all fifty different programs all coming to conclusion over the next few periods so.
-- -- -- used to it you know -- also good this year.
-- -- interest thing malaria people in this country look at malaria and polio and some of these other diseases that were so prevalent globally.
Years ago decades ago presenting here about -- here in the United States and I think some people probably even realize how serious the -- -- a global problem but it is.
Is -- -- are derived by half the world's population exposed to malaria.
There -- 225.
Million cases a year and as I said they a 100000 children most in Africa die He would.
40%.
Of all health -- resources of sub saharan Africa -- -- spent on trying to fight malaria.
So if you can imagine if we can between reduce that by half which is well this is -- Then you can triple was beds -- -- hospitals could that start to treat kids for other other other illnesses makes a big -- Yeah now Andrew big in the news right now a lot of protests going on protesting corporate American out evil they are.
Yet you have Bill Gates here bill Melinda Gates and the foundation.
Donating almost two billion dollars for this claw eyes and certainly Bill Gates would not have two billion dollars to donate if He didn't build up Microsoft.
It it's so there.
There are a lot of corporate dollars going into helping fight malaria and other diseases.
Around the world aren't -- -- GSK we've spent 300 million dollars on this program so -- We're also committed to price in this vaccine of -- -- -- cost of goods in Africa so the people can get access to it.
I think the real key here is companies like individuals have to be balanced yeah -- just just focus and I'll make -- money isn't the answer you've got to be focused on making a return few shareholders.
And make it a contribution to society that's exactly what we're trying to do -- cut.
It's probably it's very difficult to do that because here you are beating the administration it could be any administration demonizing the fact that it cost people who -- pour so much money to get drugs yet at the same time -- -- at the very beginning of this conversation is it 2530 years billions of dollars the trying come up with a drug.
Well you're not going to risk that capital and those years if you don't think you can get a return on the other side.
-- -- -- but the way we look at as we have to look at the overall pool full of all the programs all of the different Metz -- of vaccines we develop so what we need to do is generate a return in total.
Sometimes to make a high return sometimes a medium and sometimes a much lower it's a we just have -- pragmatic about how that gets put together.
I think that's the way to go -- keep a balanced approach.
Make sure -- developing medicines and vaccines it's a good value for money what does that mean that make a good positive impact and we price it accordingly.
What's next for the industry because everybody looks set and says -- -- Pfizer for example sold many of their patents coming off here in the next couple years are going to be in trouble.
A lot of violent consolidation to get the bio pharma names and get those of those pipelines back of what's next for the in the.
Street of an industry's gonna gonna -- is in a more remain in a pretty tough place for the next few years you're gonna see a lot of generics.
Come along for some of the big problems which have been around for the last few years that's good news for consumers but it's a real challenge -- the drug come yet he's.
The drug companies gonna have to innovate to survive not for GSK what kind of threw off patent cliff -- -- cold.
We've will move him back into what we believe is a growth period for the company.
I think many of the other companies in the sector of got some of that was facing from to them we think the GSK.
-- was stays behind to some -- back on the from -- Do you think you'll see continued growth through acquisition as opposed to -- more of organic growth.
The lot of these companies looking at smaller Biopharma names.
I think people always look at emanated in this sector knowledge is -- -- we we set off thanks very firmly in.
In the direction of organic growth would not interested in big pieces of acquisition.
I would gonna folks and get in all job dumb with what we have and a we thing with that we can get back to report to growth next year as -- as we leave this year.
A within us to deliver a great -- -- Prussia hold.
Those okay this RT SS drug phase three trials results today what's next what's the next that.
For the vaccine this in this -- and I will continue in this trough for about another two -- is well that will allow us to do is to really identify how it works in an age group a slightly lower age group in the wall we reported on today.
That should give us everything we need to file for approval around the middle of 2014 and should be available -- -- -- 2015 for kids in Africa.
So against repeat the news RT SS that's the malaria vaccine.
For GlaxoSmithKline.
Positive phase three trial results -- announced today.
And as we heard from Andrew continuing with the trials for probably another couple years Andrew -- CEO of GlaxoSmithKline thank you -- thank you -- -- -- great news by the way it's an.
