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Witty announces creation of "Open Lab"

January 21, 2010 1:02 AM UTC

GlaxoSmithKline plc (LSE:GSK; NYSE:GSK) CEO Andrew Witty updated the pharma's strategy on increasing access to medicines and vaccines in the developing world and announced the creation of an "Open Lab" for independent researchers focused on neglected tropical diseases. In a speech given to the Council on Foreign Relations, Witty said GSK will provide an initial $8 million seed investment to establish the lab, which will be located at the pharma's research center in Tres Cantos, Spain. GSK also will provide free public access to data for 13,500 potential malaria compounds. ...