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GlaxoSmithKline
|
|
|
Type |
Public (NYSE:
GSK) |
| Founded |
2000, by merger of
Glaxo Wellcome and
SmithKline Beecham |
| Location |
HQ in
London,
United Kingdom |
| Key people |
Jean-Pierre Garnier:
CEO
Sir Christopher Gent:
Chairman |
|
Industry |
Pharmaceutical |
|
Products |
Central nervous system,
respiratory,
antiviral,
antibiotic,
oncology and
emesis,
metabolic,
cardiovascular,
urogenital, and
over-the-counter
medicines;
vaccines;
oral and
nutritional healthcare
products |
|
Revenue |
 $37.68
billion
USD (2004) |
|
Employees |
{{{num_employees}}} |
|
Website |
www.gsk.com |
GlaxoSmithKline (GSK)
plc is a
pharmaceutical,
biologicals and
healthcare company. The second
largest pharmaceutical company in
the world, in
2004, the company had sales of
£20.3 billion and made a profit of
£6.1 billion. It employs around
100,000 people worldwide,
including over 40,000 in sales and
marketing. Its worldwide
headquarters is in
London, with dual US
headquarters in
Philadelphia and
Research Triangle Park.
The company is listed on the
London and
New York Stock Exchanges. It
does most of its business in the
United States, but has a
presence in almost 70 countries.
The company's CEO is
Jean-Pierre Garnier (former
COO of SmithKline Beecham)
and the non-executive chairman is
Sir
Christopher Gent.
GSK was formed in
December
2000 by a merger between
Glaxo Wellcome and
SmithKline Beecham, both the
product of mergers themselves, as
recently as
1995 for Glaxo and Wellcome.
GSK was actually incorporated in
December
1999 as part of the lengthy
merger process. As a result of the
mergers, the company has certain
minor businesses which are not
strictly within its larger
interests.
In
2004, pharmaceutical sales
accounted for £17 billion of GSK's
total sales. Sales are largely
based around a small number of
successful products, the
SSRI
Paxil (paroxetine) accounted
for £2.1 billion in sales alone.
Other key products include:
The company works hard to
protect the
patents of its drug
formulations and their respective
trademarks. It recently went
to court to enforce patents on
Augmentin (2002)
and
Paxil (2003),
but lost both trials.
At their
AGM on
19 May
2003, GSK shareholders
rejected a motion regarding a £22
million pay and benefits package
for Jean-Pierre Garnier. This is
the first time such a rebellion by
shareholders against a major
British company has occurred, but
is regarded as a possible turning
point against other so-called "fat
cat" deals within executive
pay structures.
In
June 2004 the company had
court proceedings initiated
against them on allegations of
fraud. The allegation is that the
company suppressed research that
shows that
Paxil/Seroxat is little more
effective than a placebo and
increases suicidal feelings in
young people, side effects which
have commonly been reported by
users for some time.
Diversity
GlaxoSmithKline was named one
of the 100 Best Companies for
Working Mothers in 2004 by
Working Mothers magazine.
See Also
Bunnythorpe, New Zealand
