PM Gordon Brown in bed with Pharma

Never mind great British institutions such as Woolworth or the ever dilapidated car industry. Forget Barratts shoe shops and Adams baby clothes. PM Gordon Brown gets his priorities in order by summoning senior industry figures, such as Andrew Witty, chief executive of GlaxoSmithKline, and David Brennan, his opposite number at AstraZeneca, to a meeting at No 10 to discuss ways of protecting pharmaceuticals and biotechnology companies, their revenues and their jobs.

Amazing isn't it?

Further evidence that this government is in bed with pharma.

Money talks folks.

Full story here

Fid

Hat-Tip - Steph Gatchell

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Glaxo accusing Lilly and Pfizer of marketing ploys?

Tell me now, because my memory is quite distorted but didn't GSK first tout Seroxat as a drug to cure shyness?

The words, pot, kettle and black spring to mind.

It's like one big game for the boys isn't it. It seems the main objective in this particular paper is to slag off Lilly and Pfizer.

The 'discontinuation syndrome' issue is downplayed time and time again in this file, rather than see this as an issue, it seems, GSK, then SKB, would rather play 'My dick is bigger than your dick' with Lilly and Pfizer.

Then we have this utter nonsense:

Discontinuation symptoms with Seroxat tend to occur with 2-5 days and resolve within 2 weeks?

Are you kidding me?

Point 6 of this paper claims: "Discontinuation events are not a major clinical issue, but are being used as a commercial smokescreen by Lilly in an attempt to retain market share"

NO GLAXO, They are being reported by patients worldwide, this has nothing to do with competition with Lilly. If anyone is using a commercial smokescreen it is YOU with this utter garbage about Seroxat discontinuation symptoms resolving themselves with 2weeks!

So, we can take it from this particular file that your reps went on the road and told doctors over dinner [dine & dash] that Seroxat was the dogs bollocks.

You knew there were discontinuation problems with Seroxat but you played them down by accusing Lilly of using a commercial smokescreen. Was that how the conversations went with your reps and doctors?

Face it Glaxo, you hoodwinked a nation, you hoodwinked my doctor, you put me through a personal hell regarding withdrawal, you also put these people through a personal hell, all because you were playing the 'big dick' game with Lilly and Pfizer.

I understand that SKB/GSK was/is a business and all businesses prime goal is to make money. Where YOU have messed up here Glaxo is by promoting and marketing a drug that has caused needless suffering. What is even more shameful is that you have sat on this information for years, meantime, patients have gone to their doctors, complained of zaps, aggression, intolerance to loud noises, suicidal thoughts, homicidal thoughts and a whole host of others. Their doctors, merely increase the dose, which in turn increases the Stirling silver for you.

You have duped the medicine regulators in the UK regarding what I like to term, the withdrawal issue on Seroxat, withdrawal as you know means dependence, dependence in turn would suggest addiction - that is the only reason you use 'Discontinuation Syndrome' isn't it Glaxo?

The game is up Glaxo. Seroxat made you an obscene amount of money, a profit of despair for hundreds of thousands of your customers. Even now, some of your customers have been free from the stranglehold of Seroxat, they still suffer. Long term use of Seroxat has never been investigated has it Glaxo? Whist you reaped the rewards we [your customers] put our faith in you. You abused that faith by turning the tables on your rivals in the Pharma sector. Your cash cow made you blind, it made you forget what medicine is all about. £££ signs drove you on, not the fact that you had manufactured a tablet to actually help people.

There are some callous people in this world, in my opinion, there are none more callous than you. Ruining people's lives and denying that you had any part in it is a despicable act, putting the onus on doctors to cover your own ass is pretty shameful too. I hope Andrew Witty reads this, I hope JP Garnier spends his retirement money [money the consumers gave him] without a conscience.

We may be the small people Glaxo, we may be David and you our Goliath but slowly and surely we are knocking down the walls of suppression, slowly but surely we are winning over the medicine regulators.

Our day will come Glaxo and the day I see you hang your heads in shame will be the day I stop writing about your unethical practices.

Fid

An open letter to Andrew Witty... Top Dog at GSK

Dear Mr. Witty,

Welcome to GSK, it's been a while but I feel i must congratulate you on your appointment as the 'Top Dog' at GSK. You have quite a reputation to live up to with your predecessor, Jean Paul... [ahem] Pierre, Garnier.

First of all Mr. Witty, you have my commiserations. Old JP left you right in the brown stuff didn't he? He must be so embarrassed at his failure...I'm sure the payoff softened the blow though.

Now, Mr. Witty, let's move on to matters at hand. Let's talk about Seroxat, the drug your company manufacture/manufactured and bestowed on the public.

Are you aware Mr. Witty that your company manufactured a drug that completely ruined my life? Are you aware that GSK's Seroxat is STILL being prescribed to children because of the failure of your company to issue stringent warnings to doctors that Seroxat SHOULD NEVER be given to children or people under a certain age? What is that age Andy? Do you know without reaching for guidance from your clinical psychiatry unit at GSK?

Are you aware of the withdrawal problems your drug is causing Mr. Witty? Do you think we are all liars and have some form of a re-occurring depression Mr.Witty?

How long have you been top dog at GSK Andrew? Are you cleaning up the mess old JP left behind? Want to make a statement about Seroxat? Do you want to tell your consumers the benefit of taking Seroxat as opposed to the risks?

Do you want to come clean about the Paxil 329 study or can you live with JP's opinion that your company did nothing wrong? Do you have children Mr. Witty, would you allow your children to pop a Seroxat tablet?

Did your office smell of excrement when you took over from JP? Was it fumigated, was the wallpaper stripped because the stench was unbearable Andy?

Your company have been hiding facts haven't they Mr. Witty?

How would you like to meet with me? We can share a coffee at Starbucks and you can sit there and patronise me for half an hour or so. You can spin the same crap that your spokespersons spin when commenting about a fatality due to the drug that you manufacture.

You have been awfully quiet regarding the Seroxat issue Andrew, does it not matter to you that the company you represent manufacture defective drugs? They are defective don't you think Mr. Witty?

Do you want to explain to the thousands of people that have suffered at the hands of your drug, Seroxat, that it is their illness causing the problem and not your drug?

You have an opportunity to clear the stench from GSK HQ Mr. Witty, quite how you can endure the smell that old JP left behind impresses me Andy.

I never thought there could be anyone as stubborn and ignorant as JP Garnier when it comes to the Seroxat issue. You are amazing, you haven't once came out in the public eye to speak about it.

What drives you Andrew? Are you in this purely for the monetary gain or do you plan to make changes for the benefit of your consumers?

Do you wish to sit down with me Andrew? Do you wish to sit there and listen to my personal withdrawal hell?

Come talk to me Mr. Witty. I can tell you exactly where you are going wrong and why Seroxat is your Achilles heel.

The truth will always out Andrew, you have an opportunity to advance that truth... if you have the courage to do so that is.

Talk to me Mr. Witty. Your company's lawyers have my address.

Fid

Read the new book, The Evidence, However, Is Clear...The Seroxat Scandal

By Bob Fiddaman

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GSK Involved in Journalism Competition.

Thanks to The Truthman for this.

A message from one of the Guardian International Development Journalism competition's sponsors
GlaxoSmithKline is one of sponsors of the Guardian International Development Journalism competition. Here, CEO Andrew Witty explains why GSK is involved


Journalism plays a crucial role in bringing news and issues to the attention of the world. It has the power to stir consciences and prompt action.

The articles contained in this supplement are fine examples of this craft, helping to broaden our understanding of the challenges faced in Africa and other parts of the developing world.

For GSK, our interest and activity in these countries is long-standing and it is why we are supporting the Guardian's efforts in International Development journalism.

Full article HERE

Maybe I should enter?

Now that's irony!

Fid

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The Doctors Lounge - Information about very long term use of paroxetine

Can anyone answer the age-old question about the very long term use of paroxetine?

Glaxo can't

The MHRA can't

Is there anyone that can or were we merely all lab rats whilst GSK earned millions?

This from the Doctors Lounge:

Currently there doesn't seem to be enough information on the effects of long term use of paroxetine (Seroxat).

There have been reports of some abnormal movements resulting from SSRIs; e. g., muscle twitches or stiffness. In theory, long-term use of these agents might--I emphasize might--predispose some individuals to such abnormal movements. But this theoretical risk, in my opinion, must be weighed against the debilitating effects of severe (major) Depression--which has a 15% mortality rate. Of course, there are other classes of Antidepressants that have been around much longer, and which do not seem to pose these theoretical risks--I. e., tricyclic Antidepressants. But these are also much more potentially toxic than the SSRIs, and have their own side effects.

Having said that, it must be conceded that we do not yet know the long-term effects of Paxil or related agents (called SSRIs, and include Prozac and Zoloft), if by long-term, you mean, "after 10 or more years of use." These agents are still too "new" to generate that kind of data. So far as I am aware, there are no convincing studies showing any serious long-term effects from the chronic use of Prozac, which is a closely related medication used since about 1988. So, all in all, I think the risks of taking Paxil indefinitely are probably quite small, but the jury is still out.

Dr. Tamer Fouad.


How reassuring. I like his opinion on risks: "I think the risks of taking Paxil indefinitely are probably quite small" - quite an opinion considering Dr Tamer Fouad said earlier in the same paragraph, "...we do not yet know the long-term effects of Paxil or related agents."

So, who do we get the answer from, Benbow, Andrew Witty, Martin Keller?

Fid

Read the new book, The Evidence, However, Is Clear...The Seroxat Scandal

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An unhealthy Paradox - Contradiction, congruence and the reputation of an industry.

Managed to get my hands on a great article from Healthy Conversations.

It seems that 86% of people are blaming GSK for damaging the pharmaceutical industry reputation following the MHRA investigation into them.

Andrew Witty really has his work cut out!

The article is available in pdf format HERE

Here's an abstract:


"Data from recent surveys would lead us to believe reputation [Pharmaceutical Industry] is on a downward slide. PricewaterhouseCoopers reported on the significant erosion of public trust and the damaging consumer perception that big pharma puts profits before patients.1"

"In the UK, research following the MHRA investigation into GSK’s disclosure of Seroxat data saw 86% of people saying the whole industry’s reputation was damaged by the situation.2"

1. PricewaterhouseCoopers Health Research Institute 2006
2. PR Week 28 March 2008

If you get a chance please download and read HERE

Read the new book, The Evidence, However, Is Clear...The Seroxat Scandal

By Bob Fiddaman

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Gordon Brown & The GSK Connection

It seems Prime Minister just can't get enough of GlaxoSmithKline CEO's.

Today news appeared in the Herald Tribune that Gordon Brown is appointing three top executives as new advisers on his national business council. He says Andrew Witty, chief executive of drug developer GlaxoSmithKline PLC, BT Group PLC chief executive Ian Livingston and Paul Walsh, chief executive of drinks producer Diageo PLC, will join the panel.

Around about the same time last year Brown recruited Jean-Paul Garnier, GlaxoSmithKline chief to serve on the Business Council!

I'd like to add the promise that Gordon Brown made to Janice Simmons when she met with him last year. This from The Huntington Post:

DRUGS giant GlaxoSmithKline will be prosecuted if an investigation finds the company withheld information that the drug Seroxat has a higher suicide risk for under 18s. This promise was made by Gordon Brown on Thursday at a Downing Street meeting with a campaigner from Huntingdon.

Looks like we are all saved then!

Brown - You never came through with that promise did you? GlaxoSmithKline were NOT prosecuted. Instead, you recruit their fucking CEO to your business council!

Fid

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By Bob Fiddaman

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HOW BIG PHARMACEUTICAL COMPANIES CONTROL MEDICINE

Case notes on corruption - Source: Le Monde Diplomatique

Doctors rely on information supplied, and research done, by major drugs companies: so ’Big Pharma’ directly or indirectly influences the choice of prescriptions for patients.

By Philippe Rivière

THE media just loves stories about bribery and corruption in the corridors of political power. Yet when GlaxoSmithKline (GSK) was under scrutiny, as it was in Italy earlier this year, the media was almost silent about it. The Italian police investigated 2,900 doctors: 37 employees of GSK Italy and 35 doctors were indicted for corruption, while 80 medical visitors were accused of making illegal payments to doctors who agreed to prescribe GSK products rather than generic equivalents. The only reports on this massive scandal were in the British Medical Journal (BMJ) (1) and the Guardian (2).

During the investigation, the police set up an elaborate computer system - Giove (Jupiter) - showing how GSK commercial representatives could track prescriptions made by doctors in their pay. According to the BMJ, 13,000 hours of phone taps give a clear picture of the relationship between prescriptions issued and the value of presents received by the doctors. Gifts included "medical" trips to the Monte Carlo Grand Prix or to the Caribbean, and cash payments of up to $1,700. Similar occurences have been discovered in the United States and Germany.

(1) Fabio Turone: "Italian police investigate GSK Italy for bribery", British Medical Journal, February 2003. (Restricted access)

(2) Sophie Arie: "British drugs giant in Italian bribery investigation", the Guardian, 13 February 2003.

Read the new book, The Evidence, However, Is Clear...The Seroxat Scandal

By Bob Fiddaman

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Bayer & Glaxo Linked To Bribes In Italy

Source: Ed Silverman's Pharmalot

...and the wheel of corruption keeps on turning!


A drug licences-for-cash scandal has engulfed Italy’s medicines regulatory agency with leading officials arrested along with people linked to major drugmakers, PharmaTimes writes. The most senior figure to have been held is Pasqualino Rossi, vice-president of Aifa, the Italian Agency for Pharmaceuticals), and one of Italy’s most senior representatives at the European Medicines Agency.

Five lobbyists have also been arrested, and an eighth person is being sought. Arrest warrants were issued after an investigating judge saw a 400-word police report suggesting money had changed hands in return for falsifying clinical data required for drug licences, according to PharmaTimes. At issue are licenses awarded to around 30 meds, mostly generics. The two-year investigation used wiretaps and covert cameras.

The scandal came to light following a routine comparison of a branded med and its generic equivalent, which turned out to have undergone fewer tests than were officially claimed and that data endorsing the product had been falsified. The discovery sparked a major investigation by the Turin’s prosecutor, Raffaele Guariniello.

“In this case the corruption and risks to people’s health were bound-up together, ” he was quoted as saying, according to Pharmatimes. “And the web and the magnitude of events that we’re shedding light on have unthinkable and very grave consequences.”

Italy’s La Repubblica newspaper named Bayer and GlaxoSmithKline as having links to some of those arrested. Daniele Rosa, a spokesman for Bayer’s Italian division said: “The investigation does not concern the behaviour of the company, but alleged behaviour that could be traced back to some collaborators whose behaviour the company has no knowledge of. We will cooperate, as always, with the investigating authorities for everything that will be requested.”

Massimo Escani, a spokesman for Glaxo in Italy, denied that any associates of the company were involved in the scandal. “The claims are completely untrue. We deny any involvement whatsoever. These reports are groundless,” he told the Italian newspaper, according to PharmaTimes.

Initially, Aifa issued a brief statement denying that its employees were among those being investigated. When the Italian press named the senior officials arrested, however, the statement was removed from the website and the spokesman said that a new one was being prepared.

According to PharmaTimes, Martin Jarvis, a spokesman for the EMEA, said: “We are aware of the reports and we have written to the Italian authorities in order to clarify Dr. Rossi’s status. Our concern is that he is in a position to perform his duties at the EMEA.”



Read the new book, The Evidence, However, Is Clear...The Seroxat Scandal

By Bob Fiddaman

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Pharma giants hit by £5bn hangover

Source: This Is Money

Ian Lyall, Daily Mail
8 February 2008

It was a bloodbath for the pharmaceuticals industry yesterday. More than £5bn was wiped from Britain's two leading drugs companies, with both feeling the pain from copycat competition.

GlaxoSmithKline led the way as it warned its earnings will go into reverse this year as a number of its products come under attack from cheap pill pushers.

The group will also struggle to fill the void left by Avandia, the controversial diabetes treatment dogged by safety concerns.

At one point the shares were down almost 10% - their sharpest one-day fall ever - but recovered to close down 89p at 1,078p.

Meanwhile, rival AstraZeneca was also in the sick-bay as it emerged that the Indian firm Ranbaxy had won permission to produce a cut-price version of its heartburn pill, Nexium, in the US.

But most of the fireworks were at GSK, where departing boss Jean-Pierre Garnier must be wishing he exited early rather than sticking around until May to take the plaudits at the company's annual meeting.

They are more likely to be brickbats after yesterday's annual results, which leave successor Andrew Witty with a tricky inheritance.

Operating profits were up 8% at £7.6bn, and the dividend rose 10% to 53p.

But that's where the good news ends. GSK warned about the after-effects of Avandia's fall from grace and the threat from generic competition, which hits its peak in 2008.

Analysts also detected a worrying weakening in profit margins and an additional US tax claim for £350m.

GSK said its earnings will fall by 'mid-single digits' this year, when some brokers were predicting a rise.

Garnier played up the potential of new drugs such as cervical cancer inoculation Cervarix and Avodart for male prostate problems.

Glaxo’s Garnier: ‘There Are More Unknowns’

Source: Pharmalot

Hat Tip - The Truthman

The drugmaker is having a rough time. The earnings report released today shows a steeper decline in fourth-quarter profit than analysts estimated and, to top it off, Glaxo ceo JP Garnier says earnings will drop this year, mostly due to docs abandoning the Avandia diabetes pill over safety concerns.

In response, Glaxo shares plunged as much as 9.5 percent earlier, the most in almost nine years, Bloomberg News points out. Net income fell 10 percent to $2.1 billion, missing analyst estimates. Revenue was little changed, with drug sales dropping 2 percent. Avandia sales, in particular, fell 55 percent, continuing a slide after a study last May linked the pill to an increased risk of heart attacks and strokes. Several other best-sellers, such as Coreg for high blood pressure and antidepressant Wellbutrin, faced greater competition from generic drugs. (Here is the Glaxo report).

FULL ACCOUNT OVER AT PHARMALOT

More on GSK's $4 million 'consolation' prizes

Have you ever witnessed anything so obscene as the 'runner-up' awards for those who missed out on the chief executive's office?

Maybe GSK didn't want those that failed to be so disappointed that they would speak out publically against them?

I loved the statement from Mary Anne Rhyne, a GSK spokeswoman at Research Triangle Park, said the company had no comment.

Mary Anne Rhyne.... hmmm

The same Mary Anne Rhyne who was vocal with her opinion on Seroxat:

If ‘discontinuation reactions’ occur in patients stopping [Paxil], the majority will experience symptoms that are mild to moderate in intensity, and are usually limited to two weeks.
Mary Anne Rhyne GlaxoSmithKline spokesperson 2005

These problems [’discontinuation reactions’] are just the body’s adjustment when you stop taking medicines. It takes more than that to be addictive.
Mary Anne Rhyne GlaxoSmithKline spokesperson 8/21/2002

Obviously doctors are very busy people, and their day is packed with patients. The question is how do doctors get information about medicines and new research into treatments and disease, and one of the easiest ways is this kind of presentation [”dine and dash”]. We think this is a benefit to both physicians and patients.”
Mary Ann Rhyne GlaxoSmithKline spokesperson

We follow the law, and we follow government guidelines.
Mary Anne Rhyne GlaxoSmithKline spokesperson 8/26/2005

You can experience symptoms, as you can with other SSRIs and as you can with other kinds of medicines as well.
Mary Anne Rhyne GlaxoSmithKline spokesperson 12/13/2003

And what about David Stout, one of the runners-up, has he ever been vocal about Seroxat?

Let's see:

GlaxoSmithKline is proud to offer physicians Paxil CR the latest treatment advance in the SSRI class.
David Stout President, US Pharmaceuticals, GlaxoSmithKline 4/19/2002

GSK strongly stands behind the safety and efficacy of Paxil. Physician organizations, like the American Psychiatric Association, have stated that antidepressants are not habit-forming.
David Stout President of U.S. Pharmaceuticals, GlaxoSmithKline

Experts including the FDA and leading physician and mental health organizations agree that antidepressant medications like Paxil are non-habit-forming.
David Stout President US Pharmaceuticals GlaxoSmithKline 10/10/2002


or what about the other runner-up, Christopher Viehbacher?

I think if, if we’ve been guilty of anything over the past few years, perhaps, um, emphasizing entertainment over education, um, we know that’s what patients really want.
Christopher Viehbacher GlaxoSmithKline U.S. President 8/16/05

My wife thinks J.P. [Garnier] is the best thing since sliced bread.
Christopher Viehbacher GlaxoSmithKline U.S. President 7/21/03


Ah well, they didn't get the top job... that went to Andrew 'not so' Witty. Makes you wonder why GSK would want to give them such a huge windfall for failure though.

Fid

GSK execs offered $4 million 'consolation' prizes

Source: News & Observer

Two GlaxoSmithKline executives could receive hefty consolation prizes for missing out on the chief executive's office.

Chris Viehbacher, president of U.S. Pharmaceuticals, and David Stout, who leads pharmaceuticals worldwide, were offered about $4 million in stock and cash and seats on the drug maker's board to stay with GSK after being passed over for the top job, the Sunday Times of London and the Daily Telegraph of London reported without naming sources.

Mary Anne Rhyne, a GSK spokeswoman at Research Triangle Park, said the company had no comment.

Viehbacher is the highest-ranking executive at RTP. Stout works in Philadelphia. Both vied to replace Jean-Pierre Garnier, who will retire in May. But the job went to Andrew Witty of GSK's European pharmaceuticals business.

According to the London newspapers, shareholders have yet to approve the retention packages, which coincide with a string of bad news for the British drug maker.

GSK announced plans a month ago to close sites and cut jobs. GSK employs about 6,000 people in the Triangle.


Money coming out its arse it seems!

Glaxo cuts jobs to save £700m a year after profits slide

Glaxo cuts jobs to save £700m a year after profits slide

· US sales of top selling diabetes drug down 50%
· Tougher regulation and generics hurt entire sector

Marianne Barriaux
Thursday October 25, 2007

Guardian

GlaxoSmithKline yesterday unveiled a cost-cutting programme that will involve job losses and the closure of manufacturing sites, as it reported third-quarter profits were hit by declining sales of its troubled diabetes treatment, Avandia.

The world's second-largest drugs company said the restructuring programme would deliver annual pre-tax cost savings of up to £700m by 2010 but would need £1.5bn to implement.

Chief executive Jean-Pierre Garnier declined to say how many jobs were likely to go but 40% of the savings will be made in manufacturing, 40% in sales and the rest in research and development. Analysts said they expected the job losses to run into thousands.

Unions were quick to condemn the move. Linda McCulloch, Unite national officer for the pharmaceutical industry, said: "This is a profitable company that does not need to cut jobs or close plants and we will fight any attempt by the company to do either in the UK."

But Mr Garnier said the programme was crucial for GSK to adapt to a changing environment. It is the latest drug maker to announce cost-cutting measures in the face of growing competition from cheaper generic medicines and a tougher safety stance by drug regulators.

Pfizer, the world's leading pharmaceuticals group, announced this year that 10,000 positions will be axed worldwide, and AstraZeneca, the UK's second-biggest drug firm, is to cut 7,600 posts.

Mr Garnier said: "We have always had pricing and reimbursement issues - that's not new. What is new is that the regulatory authorities, particularly and primarily the FDA, have slowed down their pace of approval of new products. It's just taking a longer period of time to approve new products. In our business model, we need to replace products that go off patent quickly, so we can't have those delays. They're making our lives a little more difficult."

News of the cuts came as GSK reported a 2% drop in third-quarter pre-tax profit to £1.9bn at constant exchange rates, on sales 1% ahead at £5.5bn.

GSK said savings from the cost-cutting moves will amount to around £350m next year and will partly offset the impact on earnings from generic competition and lower Avandia sales.

The company has been hit hard by the safety scare surrounding Avandia, one of its best-selling drugs. In May, a study published in the New England Journal of Medicine linked the treatment to an increase in heart attacks, and prescriptions have fallen by more than 50% in the US since the week before the report was published. The company said total sales of Avandia and its related products were down 38% to £225m in the third quarter.

"Clearly the loss of part of Avandia, in the US particularly, gives more urgency to the need to adjust to the external environment," Mr Garnier said. "You can always have an Avandia day. It's a sad day but it happens and you have to be ready."

He added the group remained on track to meet its earnings guideline for the year - earnings per share growth of 8 to 10% at constant exchange rates .

The company said it would continue to look for outsourcing opportunities, although Mr Garnier ruled out outsourcing the group's entire production capability.

In R&D, it would increase investment in biopharmaceuticals, vaccines and emerging markets such as China.

GSK said its new drugs pipeline remained solid, with 149 projects in clinical development, including 33 products in phase-three development or registration. It has had 15 drugs launched, approved or filed so far this year.

The company announced this month that Andrew Witty, the Europe chief, would replace Mr Garnier when he retires next May. But Mr Garnier refused to be drawn on whether the two other candidates - David Stout and Chris Viehbacher - would remain with the company.

"When I was at their level in the company, I got lots of CEO offers," he said. "But I didn't take them. I waited for the right one to come along, which was my own company. Of course, the phone has been ringing even before - they're not exactly unknown within the industry - so I don't think anything has changed."

Shares in the group closed down 11p at £12.49.

Memo to Andrew 'Not so' Witty

1. Sort the Paxil/Seroxat debacle out.

2. Terminate the employment of Alistair Benbow

3. Look up the word 'Conscience' in a dictionary


Oh and puhleeassse change the GSK promise 'DO MORE, FEEL BETTER, LIVE LONGER', it's soooooo patronising!

Your ever good friend

Robert 'Fiddy' Fiddaman