The company's first branded drug was a laxative under the Beecham's Pills brand. Today, GSK shares top billing as one of the world's largest pharmaceutical companies. It ranked third, behind Johnson & Johnson and Pfizer, in Fortune's 2009 ranking.
At A Glance:
Revenues: $45 billion
Profits: $8 billion
Workforce: 99,003 in 100 countries
Non-Executive Chairman - Sir Christopher Charles Gent
Chief Executive Officer - Andrew Witty
Chairman of R&D - Moncef Slaoui
Chairman of GSK Biologicals and President of GSK Biologicals - Baron Jean Stephenne
President of Global Manufacturing & Supply - David Pulman
GSK focuses on eight therapeutic lines, according to the company's website. In order of earnings, they are: respiratory, anti-virals, vaccines, cardiovascular and urogenital, central nervous system, anti-bacterials/anti-malarials, metabolic, and oncology and emesis.
In 2009 GSK gained 12 FDA product approvals and submitted 11 new fillings. The majority of GSK's R&D work is done at GlaxoSmithKline Biologicals in Rixensart, Belgium.
GSK markets more than 25 vaccines worldwide to prevent or treat hepatitis A, hepatitis B, diphtheria, tetanus, whooping cough, measles, mumps, rubella, polio, typhoid, influenza and bacterial meningitis.
The company's leading over-the-counter (OTC) drugs and consumer health products include alli, a weight loss medicine; Tums and Gaviscon; antacid products; Panadol, a pain reliever; Niquitin and Nicorette, smoking control products; Breathe Right nasal strips; Aquafresh and Sensodyne toothpastes, toothbrushes, and mouthwashes; and Lucozade, a nutritional product.
Acquisitions and Collaborations:
In tandem with planned restructuring, including reducing sales costs, GSK has made significant investments in emerging markets and new partnership models to off-set losses as branded blockbuster drugs lose their U.S. and European patent protection.
"Our diversified sales base is helping to reduce reliance on sales generated in 'white pills/western markets' and offset the decline in sales seen in our US pharmaceuticals business," CEO Andrew Witty commented when announcing Q2 2010 results.
Examples of this strategy:
- GSK acquired Argentinian company Laboratorios Phoenix, a branded generic pharmaceutical manufacturer, in June 2010. Prior to the acquisition, GSK was in 11th in Argentina drug sales. The acquisition makes GSK the third largest pharmaceutical company in the country.
- Also in June 2010, GSK entered into a revenue sharing arrangement with Dr. Reddy's Laboratories Ltd., a leading generic manufacturer in India. Dr. Reddy's products will carry the GSK brand.
- Pfizer and GSK established ViiV Healthcare, a specialist HIV company, in November 2009 to focus on the global HIV market.
- GSK has allied with smaller companies on product development for growing biopharmaceutical markets, including Anacor Pharmaceuticals, ChemoCentryx, Concert Pharmaceuticals, Galapagos, NeuroSearch, OncoMed Pharmaceuticals, Prosensa, Therapeutics, Ranbaxy Laboratories, and Theravance.