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Public ( NYSE : ''' GSK ''')
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"Do more, feel better, live longer"
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2000 , by merger of '''Glaxo Wellcome''' and '''SmithKline Beecham'''
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HQ in Brentford , United Kingdom
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Sir Chris Gent , Chairman <br> Jean-Pierre Garnier , Chief Executive <br> Julian Heslop , Chief Financial Officer
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Pharmaceutical
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£2166 billion GBP / $380481 billion USD ( 2005 )
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Central Nervous System , Respiratory , Antiviral , Antibiotic , Oncology and Emesis , Metabolic , Cardiovascular , Urogenital , and Over-the-counter Medicine s Vaccines Oral and Nutritional healthcare products
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100,019 (31/12/2004)
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( ) is a
British based
Pharmaceutical , biologicals, and
Healthcare company. 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 worldwide headquarters are GSK House in
Brentford Middlesex, UK, with its United States operations based in
Philadelphia .
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 (formerly Chairman of Vodafone).
GSK was formed in December 2000 by a merger between and '''SmithKline Beecham''', both the product of mergers themselves, as recently as
1995 for Glaxo Group Research and Burroughs Wellcome. GSK was actually incorporated in December
1999 as part of the lengthy merger process.
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.
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:
- Seretide / Advair (combination of the Bronchodilator Salmeterol and the Steroid Fluticasone , £3,003m)
- Avandia ( Rosiglitazone , a PPAR-gamma Agonist , £1,154m)
- Lamictal ( Lamotrigine , an Anticonvulsant used to treat various types of Epilepsy , £849m)
- Zofran ( Ondansetron Hydrochloride , used to prevent nausea and vomiting associated with chemotherapy and radiotherapy for cancer, £837m)
- Wellbutrin (bupropion, an Anti-depressant , £739 m)
The company works hard to protect the
Patent s of its drug formulations and their respective
Trademark s. It recently went to court to enforce patents on
Augmentin (2002) and
Paxil (2003), but lost both trials.
Current members of the ,
Chris Gent ,
Lawrence Culp ,
Sir Crispin Davis , Tom De Swaan,
Julian Heslop ,
Deryck Maughan ,
Ian Prosser ,
Ronaldo Schmitz ,
Lucy Shapiro ,
Robert Wilson , and
Tadataka Yamada .
For many years now GSK has been a leading contributor to a multinational govenment 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.''”
- Pharmaceutical Operations headquarters in Philadelphia, Pennsylvania ; and Research Triangle Park , North Carolina
- Consumer Products headquarters in Pittsburgh, Pennsylvania
- Major R&D sites in Research Triangle Park , North Carolina; and Upper Merion and Upper Providence, Pennsylvania
- Major manufacturing sites for prescription products in Bristol, Tennessee; King of Prussia, Pennsylvania; and Zebulon, North Carolina
- Major manufacturing sites for consumer products in Aiken, South Carolina; Clifton, New Jersey; Memphis, Tennessee; and St. Louis, Missouri
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 per cent 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.
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."
[http://www.guardian.co.uk/uklatest/story/0,1271,-5308648,00.html?gusrc=ticker-103704
In November 2005, AIDS Healthcare Foundation accused the company of boasting 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.
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In June 2003 the U.S. 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 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.
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 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.
