GlaxoSmithKline boss says new drugs can be cheaper

By Ben Hirschler LONDON (Reuters) – The pharmaceutical industry should be able to charge less for new drugs in future by passing on efficiencies in research and development to its customers, according to the chief executive of GlaxoSmithKline Plc. "It's not unrealistic to expect that new innovations ought to be priced at or below, in some cases, the prices that have pre-existed them," Andrew Witty told a conference on healthcare in London. "We haven't seen that in recent eras of the (pharmaceutical) industry but it is completely normal in other industries. …