More transparency from pharmaceuticals

GlaxoSmithKline (GSK) has recently announced that it would no longer pay doctors to promote its products at speaking engagements or give financial support to health care professionals attending medical events. Its sales force will also not receive individual sales targets. This is part of the overall industry's move to greater transparency. These initiatives demonstrate that some big companies are now responding to the competitive advantage that better ethical conduct brings i.e. being more open and clear about what you do helps to build trust from your stakeholders which in turn boosts value.