It’s all going wrong for Jean-Pierre Garnier at Glaxo

As Chief Executives go, JP Garnier has always been VERY well paid. But in order to justify his huge salary JP needs to deliver – and he’s not – in fact, he is fast becoming an embarrassment to the company. When Garnier said “I’ll be a hero in three years.” (5 May 2004), I’m not quite sure this is what he had in mind!

At Glaxo’s AGM last week shareholders voiced their anger over the poor performance of GSK’s share price, which has dropped by almost 15% over the past year.

GSK investor John Farmer blasted the group for its “colossal under-performance” and demanded the resignation of chairman Sir Christopher Gent and a more speedy exit for CEO Jean-Pierre Garnier. Garnier is not due to step down until May 2008.

The current controversy over Avandia, the latest in a long line of scandals associated with Glaxo and its drugs, has seen more than £9 billion wiped off the share price.

New data that shows Avandia dramatically increases the risk of heart attacks, has seen frightened patients abandoning a long-term trial of the drug that is aimed at proving its safety. Glaxo has become so alarmed at the threat to the 4,400-patient safety study that it is examining ways to persuade volunteers to stick with the drug.

Perhaps Glaxo could get Sir Christopher to write to all the patients and tell them what he told the AGM “We remain confident that the significant benefits of the medicine continue to outweigh any treatment risks.”

Yep, that should do it…

Or maybe a word from JP himself would help all Glaxo’s frightened patients: “If anyone thought drugs were without side-effects, hopefully that’s over. All drugs have side-effects. We are having to spend hundreds of millions of dollars on lawyers.” Jean-Pierre Garnier 23 April 2005

4 Responses to “It’s all going wrong for Jean-Pierre Garnier at Glaxo”

  1. Lynn Says:

    Have you read of GSK funding a study showing that ssri’s don’t hurt fetuses? http://www.msnbc.msn.com/id/19464132

  2. admin Says:

    Yes – I’ve seen that news – I haven’t looked at it in detail but one of the studies (Boston) was Glaxo funded…

    I think another important first take on this news is that the studies looked at ALL SSRIs, not just Seroxat (Paxil).

    Seroxat is the most dangerous SSRI for the unborn child – in fact I think it’s the only one to have a black box warning in the States (am I right on this?).

    Therefore it could be argued that by including other SSRIs in the study that one may be “watering down” or hiding the Seroxat risk – I have no idea about the details of the stats used to draw these conclusions.

    Finally I have to ask if we can believe ANY studies that have been undertaken with funding from drug companies. You only have to read the rest of this blog to understand the way drug companies skew results in order to use them as part of their PR and marketing activities.

    And that’s being kind about what they do.

  3. admin Says:

    Another issue that has to be considered is that newborn babies are proven to suffer from Seroxat withdrawal after they have been born to mothers who took the drug in pregnancy… so Seroxat does affect babies in the womb – today we know that for a fact.

  4. truthman30 Says:

    I feel I must draw attention to the fact that Seroxat did cause baby pups (rats) in GSK’s original clinical trials to have defects…And also there was high pup mortality rates (dead baby rats)

    GSK was well aware of the possibility of foetus defects with Seroxat(Paxil) . They just didnt care enough to draw attention to it.
    How much they were aware is not posible to know. But one thing is for sure. They knew more about it than they are letting on.

    The fact that Seroxat causes defects in babies and damage to the foetus should be yet another red flag for the MHRA , and should further enforce a ban on seroxat which has been well due since the first panorama expose in 2002.
    The fact that it has recently been reclassified as a drug which is potentially damaging to the unborn child should be also an indicator to the MHRA of the defective nature of this drug and should further also further enforce moving towards a pull of Seroxat from the market…

    (but as ever the MHRA continues to ignore the plight of those injured by seroxat… Obviously dead seroxat babies is not enough of a problem to get in the way of their profit driven business)

    Either way, it stinks.

    Check out this post on my blog about the defects in baby rats..

    http://truthman30.wordpress.com/2007/05/19/seroxat-link-10-paroxetine-womb-foetus-poisoning/

    Paroxtine Womb : Foetus Poisoning


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