Drugs firms to cooperate on Sars vaccine

GlaxoSmithKline, the British pharmaceutical giant, today pledged to cooperate with rivals to find a possible vaccine against the Sars virus.

Jean-Pierre Garnier, chief executive, said his company had committed itself to work on the project with other vaccine firms during a meeting earlier this month with US government health officials.

"We are committed to accelerate our development of a possible vaccine for Sars," Mr Garnier said in a conference call, after announcing the group's first quarter results.

But he cautioned that it would take years to find a remedy.

"It takes time to develop a vaccine, even with the best intention and all the resources at our disposal," Mr Garnier said. "This is not a matter of weeks or months, it is a matter of years. Clearly it is better to start now because this infection might come back, even if it is contained in the short term."

GSK, which this week slashed the price of its Aids drugs to the world's poorest countries under international pressure, is working on the project at its vaccine development centre in Belgium and is keeping in close touch with France's Institut Pasteur and rival firms.

"Normally we compete with each other on this. This time we have at least committed to exchange some of the science," Mr Garnier said.

Severe acute respiratory syndrome, which started in China, has killed at least 372 people around the world, and infected nearly 6,000 in 29 countries. Scientists say developing a vaccine against the disease is the best long-term hope but admit it could take years to analyse the virus and produce a safe and effective product.

In its trading report, GSK delivered pretax profits of £1.7bn in the first quarter, an increase of 11%, as cost savings helped offset the impact of a weaker US dollar on sales.

GSK has come under fire for its generous pay deal for Mr Garnier and was forced to shelve a proposed £20m pay package amid investor fury.

Another row is brewing ahead of the annual meeting next month as shareholders indicate concern about a two-year notice period for Mr Garnier, which could enhance any payoff to the Philadephia-based executive in the event of a sale of the business or his departure.

GSK was up almost 1% at 1,243p in afternoon trading.