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GlaxoSmithKline

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GlaxoSmithKline <tr><td colspan="2" style="text-align:center; padding:16px 0 16px 0;">
</td></tr>
Type Public (LSE: GSK NYSE: GSK)
Founded 2000, by merger of Glaxo Wellcome and SmithKline Beecham
Headquarters Brentford, London, United Kingdom

<tr><th style="text-align:right; padding-right:0.75em;">Key people</th><td>Sir Chris Gent, Chairman
Jean-Pierre Garnier, Chief Executive
Julian Heslop, Chief Financial Officer</td></tr><tr><th style="text-align:right; padding-right:0.75em;">Industry</th><td>Pharmaceutical</td></tr><tr><th style="text-align:right; padding-right:0.75em;">Products</th><td>www.gsk.com/products</td></tr><tr><th style="text-align:right; padding-right:0.75em;">Revenue</th><td>Image:Green Arrow Up.svg £21.66 billion (2005)</td></tr><tr><th style="text-align:right; padding-right:0.75em;">Net income</th><td>Image:Green Arrow Up.svg £6.9 billion (2005)</td></tr><tr><th style="text-align:right; padding-right:0.75em;">Employees</th><td>Over 100,728 (2005)</td></tr><tr><th style="text-align:right; padding-right:0.75em;">Slogan</th><td>"Do more, feel better, live longer"</td></tr><tr><th style="text-align:right; padding-right:0.75em;">Website</th><td>www.gsk.com</td></tr>

GlaxoSmithKline plc (LSE: GSK NYSE: GSK) is a British based pharmaceutical, biologicals, and healthcare company. GSK is a research-based company with a wide portfolio of pharmaceutical products covering anti-infectives, central nervous system (CNS), respiratory, gastro-intestinal/metabolic, oncology and vaccines products. It also has a Consumer Healthcare operation comprising leading oral healthcare products, nutritional drinks and over the counter (OTC) medicines.

As the second largest pharmaceutical company in the world (after Pfizer), the company had sales of £21.66 billion and made a profit of almost £6.9 billion in 2005. It employs around 110,000 people worldwide, including over 40,000 in sales and marketing. Its global headquarters are GSK House in Brentford, London, United Kingdom, with its United States operations jointly based in Philadelphia and Research Triangle Park (RTP) in North Carolina and its consumer products division based in Moon Township, Pennsylvania. The company is listed on the London and New York stock exchanges. The majority of its activity is in the United States, although the company has a presence in almost 70 countries.

In 2005, pharmaceutical sales accounted for £18.66 billion (or 86%) of GSK's total sales. Sales are based around a broad range of products with the most successful being:

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[edit] Corporate governance

Current members of the board of directors of GlaxoSmithKline are:

[edit] Merger history

There are four main companies in the history of GSK: Burroughs Wellcome & Company, Glaxo Laboratories, Beecham, and Smith Kline.

In 1880, Burroughs Wellcome & Company was founded. Wellcome Tropical Researches Laboratories was opened in 1902. McDougall & Robertson Inc. was bought by the Wellcome Company to be more active in animal health. Also, the production center was moved from New York to North Carolina in 1970 and the following year another research center was built.

Glaxo Laboratories was founded and opened new units in London in 1935. Glaxo Laboratories bought two companies called Joseph Nathan and Allen & Hanburys in 1947 and 1958 respectively. After it bought Meyer Laboratories, it started to play an important role in US market. In 1983, Glaxo Inc. moved to Research Triangle Park (US headquarters/research) and Zebulon (US manufacturing) in North Carolina. To be stronger in the medicine market, Burroughs Wellcome and Glaxo, Inc merged in 1995. The new name of the company was GlaxoWellcome. Same year, GlaxoWellcome opened Medicine Research Center in England. Three years later GlaxoWellcome bought Polfa Poznan Company in Poland.

Beecham opened its first factory in St.Helens, Lancashire, England for rapid production of medicines in 1859. Beecham Inc. bought companies for various products. It added Lucozade energy drink and Macleans tooth paste to its product chain in 1938. The following year it added hair products for men by buying another company. In 1943 it decided to focus more on improving its research. It built Beecham Research Laboratories and six years later it bought C L Bencard Inc. which specialized in vaccines.

Image:GSK HQ.jpg

In 1830, John K. Smith opened its first pharmacy in Philadelphia. Over the years Smith, Kline and Company favorably amalgamated with the French, Richard and Company because of their successful management decisions. It changed its name to Smith Kline & French Laboratories to more focus on researching in 1929. Years later, Smith Kline & French Laboratories opened a new laboratory in Philadelphia; furthermore, it bought a laboratory called Norden Laboratories which was doing research into animal health to benefit their research in various other areas. To move on this path, Smith Kline & French Laboratories bought Recherche et Industrie Therapeutiques in 1963 to focus on vaccines. The company also wanted to spread all over the world to capture shares in various medicine markets. Because of this, Smith Kline & French Laboratories bought 7 more laboratories in Canada and US six years later. In 1982, it bought Allergan which was making products about eye and skin. It also merged with Beckman Inc. After this merge, it changed its name to SmithKline Beckman. In 1988, SmithKline Beckman bought its biggest competitor, International Clinical Laboratories, and enlarged by 50%. The next year, Beecham and SmithKline Beckman became one and changed the name of the company to SmithKline Beecham plc. The headquarters of the company were then moved to England. To improve the R&D in US, SmithKline Beecham bought a new research center in 1995. Yet another new research center was opened in New Frontiers Science Park two years later. The latest merge occurred in 2000 with GlaxoWellcome. Since 2000, the name of the company has been GlaxoSmithKline.

[edit] Work in the community

For many years now GSK has been a leading contributor to a multinational government and industry alliance to rid the world of lymphatic filariasis (elephantiasis). LF threatens over one billion people in 83 countries. Approximately 120 million people are infected with the parasites, 40 million of whom have clinical symptoms of the disease. The Global Alliance to Eliminate LF was formed with the support of the pharmaceutical companies GlaxoSmithKline and Merck to help countries with LF respond. GSK has donated over 440 million albendazole tablets to date, which serve as a cornerstone of the program.

JP Garnier, CEO of GlaxoSmithKline added, “The Egyptian data shows that we can now eliminate a disease that has plagued the world for centuries. We remain committed to donating as much albendazole as required to eliminate this disabling disease, but ultimate success will depend on continued long-term commitments by all partners across the globe.”

In addition Glaxo has been short-listed for awards such as The Worldaware Business Award for its work to eliminate malaria in Kenya.

[edit] Global locations

[edit] Diversity

GlaxoSmithKline was named one of the 100 Best Companies for Working Mothers in 2004 by Working Mothers magazine and was recognized by the International Charter for its efforts. GSK also received a perfect score of 100 percent from the Human Rights Campaign Foundation's 2005 Corporate Equality Index, an annual report card of corporate America's treatment of gay, lesbian, bisexual, and transgender (GLBT) employees, customers and investors.

[edit] Controversy

The company has been targeted by animal rights activists because it is a customer of the controversial animal-testing company, Huntingdon Life Sciences (HLS). HLS has been the subject since 1999 of an international campaign by Stop Huntingdon Animal Cruelty and the Animal Liberation Front (ALF), ever since footage shot covertly by People for the Ethical Treatment of Animals, which was shown on British television, showed staff punching, kicking, screaming and laughing at the animals in their care. On September 7, 2005, the ALF detonated a bomb containing two litres of fuel and four pounds of explosives on the doorstop of the Buckinghamshire home of Paul Blackburn, GSK's corporate controller, causing minor damage. An ALF statement left on the animal-rights website Bite Back appeared to warn GSK that there would be further action: "We have identified and tracked down many of your senior executives and also junior staff, as well as those from other HLS customers. Drop HLS or you will face the consequences. For all the animals inside HLS, we will be back." [1] [2]

At the AGM on 19 May 2003, GSK shareholders rejected a motion regarding a £22 million pay and benefits package for Jean-Pierre Garnier. This was the first time such a rebellion by shareholders against a major British company has occurred, but was regarded as a possible turning point against other so-called "fat cat" deals within executive pay structures.

In June 2003 the U.S. Food and Drug Administration released an advisory statement regarding the use of Paxil for the paediatric population [3]. However, the US government has not banned the use of the drug for children, as the United Kingdom has, but instead directed the manufacturer to include a "black box" label on the prescription medication. As of 2006, there is currently no consensus on the effects of Paxil in youth.

In June 2004 the company had court proceedings initiated against them on allegations of fraud. The allegation was that the company suppressed research that shows that Paxil/Seroxat was little more effective than a placebo and increased suicidal feelings in young people, side effects which have commonly been reported by users for some time.

In November 2005, AIDS Healthcare Foundation accused the company of boosting its short-term monopoly profit by not increasing production of the anti-AIDS drug AZT despite a surge in demand, hence creating a shortage that affected many AIDS patients in Africa. [4]

[edit] See also

[edit] External links

GlaxoSmithKline plc

Corporate Directors: Lawrence Culp | Crispin Davis | Jean-Pierre Garnier | Chris Gent | Julian Heslop | Deryck Maughan | Ian Prosser | Ronaldo Schmitz | Lucy Shapiro | Robert Wilson | Tadataka Yamada

Products: Bupropion (Zyban) | Co-amoxiclav (Augmentin) | Paroxetine (Paxil, Seroxat, Aropax) | Rosiglitazone (Avandia)

Annual Revenue: $39.0 billion USD (Image:Green Arrow Up.svg2% FY 2004) | Employees: 100,019 | Stock Symbol: LSE: GSK NYSE: GSK | Website: www.gsk.com

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