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GLAXO'S OVERALL PRICE INCREASE FOR FISCAL 1992 AT 1.8 PERCENT

 RESEARCH TRIANGLE PARK, N.C., Feb. 3 /PRNewswire/ -- Glaxo Inc., a subsidiary of Glaxo Holdings p.l.c. (NYSE: GLX), said today that its overall price increase for fiscal 1992 was 1.8 percent, well below the general inflation rate for the same period of 3 percent.
 The company issued the information in response to contentions by Arkansas Sen. David Pryor and other pharmaceutical industry critics that Glaxo was among the companies that had broken their pledges to keep price increases in line with inflation. In a press briefing, Sen. Pryor issued a report saying that Glaxo increased its prices 4.4 percent in 1992, a period in which the increase in the Consumer Price Index measured 3 percent.
 The report goes on to note that the price change represents an unweighted average of price increases in what it defines as the outpatient market. It further notes that the increases it measures, when combined with lower prices charged in other markets, may result in weighted average price increases at or below the inflation rate. This was clearly the case with Glaxo, where the weighted average price increase across its product line for the fiscal year ending June 30, 1992, was 1.8 percent, a figure confirmed by the accounting firm of Coopers & Lybrand.
 These audited data demonstrate that, far from contributing to the "unrestrained inflation" claimed in the report, Glaxo has kept its commitment to maintain the weighted average of its price increases in line with inflation. Further, the company said it intends to live up to its pledge again in fiscal 1993.
 Along with Glaxo's nine-year-old program to provide its products free to medically indigent patients, this commitment allows the company to responsibly address concerns over rising health care costs in a manner that does not threaten its essential mission: the discovery and development of innovative, cost-effective therapies for improved patient care.
 The company added that its own behavior has demonstrated that it is both possible and desirable to continue programs addressing health care costs on a voluntary basis.
 -0- 2/3/93
 /CONTACT: Rick Sluder, Corporate Communications, Glaxo Inc., 919-248-2839/
 (GLX)


CO: Glaxo Inc.; Glaxo Holdings p.l.c. ST: North Carolina IN: MTC SU:

CM -- CH009 -- 2452 02/03/93 13:38 EST
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Publication:PR Newswire
Date:Feb 3, 1993
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