Better living through chemistry
With reports on the side effects of drug testing hitting the headlines, Andrew Tjaardstra investigates the insurance market in the powerful world of the pharmaceutical industry
On 2 March, the second explosion in seven years at GlaxoSmithKline's Scottish manufacturing site in North Ayrshire has highlighted the risks involved in the pharmaceutical industry. However, the British-based giant, which was formed following the merger of Smithkline Beecham and Glaxo Wellcome in 2000, and has recently unveiled pre-tax profits of £6.7bn from a turnover of £21.7bn in 2005, has far more pressing concerns to occupy its risk managers, such as product liability.
A drug trial went
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