The foundation of today's leading research-based pharmaceutical company was laid by individual entrepreneurs of the 1800s. GlaxoSmithKline was formed on 27 December 2000, by the merger of Glaxo Wellcome and SmithKline Beecham. Headquartered in the UK, the company is one of the industry leaders, with an estimated 7% share of the world's pharmaceutical market. Deirdre Connelly is the President, North America Pharmaceuticals, GlaxoSmithKline. Its United States operations are located in Research Triangle Park (RTP) in North Carolina. In 2010, the total turnover for GSK was £28.4billion of which the biggest contributor was the US segment topping with £7.6 billion in sales (approximately 45% of revenue).
The company's stock is listed on the London stock exchange and ADRs are listed on the NYSE. GSK has over 100,000 employees worldwide. Of these, over 40,000 are in sales and marketing, the largest sales force in the industry. Almost 42,000 employees work at 99 manufacturing sites in 39 countries and over 16,000 are in research and development (R&D). GSK R&D has 24 sites in seven countries. The company has a leading position in genomics/genetics and new drug discovery technologies. The GSK R&D budget is about £2.4 billion/US$4 billion. Every second, more than 30 doses of vaccines are distributed by GSK around the world. Every minute, more than 1,100 prescriptions are written for GSK products. Every hour, GSK spends more than £277,000/US$450,000 to find new medicines. Every day, more than 200 million people around the world use a GSK brand toothbrush or toothpaste.
In July 2011, at a White House meeting convened between President Obama and US business leaders to address education reform, GlaxoSmithKline (GSK) pledged to contribute $10 million toward education over the next five years, with at least one-third of the funds directed toward drop-out prevention in the lowest performing schools in the United States. This pledge is in addition to a $5 million gift from GSK to the City of Philadelphia earlier this year towards the empowering of youth so that they can excel in the 21st century workforce. GSK's Science Ambassadors introduce scientists into the classroom to encourage students to pursue careers in science, and to broaden children's understanding of science through hands-on experiment kits and a mobile learning lab.
The company encourages its employees to volunteer with schools and non-profit organizations. GSK awards $500 to any qualifying organization or school where an employee or their spouse/domestic partner volunteers for at least 50 hours per year. 'Science in the Summer' is GSK's free science education program, now in its 25th year, aimed at sparking an interest in science for approximately 5,000 elementary school children each year in North Carolina and Pennsylvania. In total, GSK paid $28.5 million to US healthcare professionals in 2011 March for their help in conducting research on topics including cardiovascular disease, chronic obstructive pulmonary disease (COPD), macular degeneration, renal disorders and cancer.
[...] Infanrix and Pediarix are the flagship vaccination brands; with twenty three new product launches across United States and Europe (2008-2013). United States is the largest marketspace; contributing 32% (2010: 32.6 of group revenues (2012). GlaxoSmithKline plc is publicly traded on London and New York Stock Exchanges; with market capitalisation of £ 81.4 billion (July 2013). Dodge & Cox is leading institutional shareholder controlling of equity. Ten largest institutional investors control of equity in July 2013. It was incepted in 1880. [...]
[...] The annual R&D expenditure declined by in 2011-2012. Reduction into R&D expenditure for technology and knowledge centric pharmaceutical enterprise will hamper long-term growth outlook (Datamonitor, 2012). Civil and criminal lawsuit worth US$3 billion in United States has hampered short-term brand equity and value on regional basis (Reuters, 2013). ➢ Opportunities: In 2100, the global population will reach 10.1 billion from current level of 7 billion (Annual Report, 2012). Older age population (aged above 65 years) will increase by Post fifth reauthorisation of the Prescription Drug User Fee Act (PDUFA) passed in 2012, FDA has approved 39 new molecular formulations and entities in United States. [...]
[...] June 2013 Launched new healthcare innovation based idea generation programme in collaboration with Save the Children worth US$1 million. May 2013 BRAF-inhibitor Tafinlar® (dabrafenib) capsules and the first MEK-inhibitor Mekinist™ (trametinib) tablets receive FDA approvals (oral oncology treatment). Apr 2013 Termination of research & development partnership with Impax Pharmaceuticals related to development of IPX066 outside the United States and Taiwan (carbidopa-levodopa extended release product in Phase III development for Parkinson's disease). Mar 2013 Establishment of influenza vaccination manufacturing facility with initial capital investment of US$91 million in collaboration with The Texas A&M University System. [...]
[...] South Africa's Aspen Pharmacare Holdings Ltd and India's Dr. Reddy's Laboratories Ltd. The company plans to acquire regional pharmaceutical and consumer healthcare centric businesses to improve dependency on emerging markets. Thus, overall GSK Plc is steadily shifting focus towards emerging markets along with streamlining of its advertising and promotional structure i.e. reduction of media agencies from eleven to two or three. Finally, the company is divesting its non core consumer healthcare brands to enhance research & development expenditure across pharmaceutical & vaccine segment (core product portfolio). [...]
[...] United States accounted for 34% of total advertising and promotional expenditure in 2012. It is steadily focusing on enhancing its product and media buying and planning budget in non United States markets (especially Asia and Middle East) on long- term basis. ➢ Pricing: In consumer healthcare segment; the company has premium pricing point related to its flagship nutritional brand “Horlicks”. Example: In India, Horlicks is priced at Rs 235 per 500 grams as compared to Complan (Rs 178), Boost (Rs 199) and Bournvita Little Champs (Rs 175). [...]
using our reader.