GlaxoSmithkline

HISTORY

GlaxoSmithKline started operations on 1 January 2001 following the merger of GlaxoWellcome group and SmithKline Beecham group, but their combined histories go back much further than that.

Beginning with1715: Plough Court Pharmacy was established1830: John K Smith opened his first drugstore 1842: Beecham’s Pills brand was launched2000: Planned merger of Glaxo Wellcome and SmithKline Beecham was announced

Mission : Do more, Feel Better, Live Longer.

The business is focused around the delivery of three strategic priorities which aim to increase growth, reduce risk and improve the company’s long-term financial performance.

These priorities are: • Grow a diversified global business, • Deliver more products of value, • Simplify the operating model.

What GSK does?

GSK is a science-led global healthcare company. It researches and develops a broad range of innovative products in three primary areas viz., Pharmaceuticals, Vaccines and Consumer Healthcare.

GSK has a significant global presence with commercial operations in more than 150 countries, a network of 84 manufacturing sites in 36 countries and large R&D centres in the UK, USA, Spain, Belgium and China.

Pharmaceuticals

GSK’s Pharmaceuticals business develops and makes medicines to treat a broad range of acute and chronic diseases. It’s portfolio is made up of both patent-protected and off patent medicines. Such as, products for major disease areas like asthma, cancer, infections, mental health, diabetes and digestive conditions.

£15.5bn turnover    67% of Group

Vaccines

GSK’s Vaccines business is one of the largest in the world, producing paediatric and adult vaccines against a range of infectious diseases. In 2014, it distributed more than 800 million doses to 170 countries, of which over 80% were supplied to developing countries. 

£3.2bn turnover    14% of Group

Consumer Healthcare

GSK’s Consumer Healthcare business develops and markets a range of products in the areas of: Pain Relief, Respiratory, Oral Health, Nutrition/Gastro Intestinal and Skin Health. These include a number of well-known global brands such as Sensodyne, Parodontax, Poligrip, Voltaren, Aquafresh toothpaste, Horlicks, Panadol, Breathe right nasal strips, Otrivin and Theraflu. 

£4.3bn turnover   19% of Group 

Governance

Sir Philip Hampton, Chairman

Corporate Executive Team (CET)

Sir Andrew Witty: GSK CEO & member of the Board &Corporate Executive Team

Roger Connor: President, Global Manufacturing & Supply

Simon Dingemans: Chief Financial Officer

Nick Hirons: Senior Vice President, Global Ethics and Compliance

Abbas Hussain: President, Global Pharmaceuticals

David Redfern:Chief Strategy Officer

Dr, Moncef Slaoui: Chairman, Global Vaccines

Claire Thomas: Senior Vice President, Human Resources

Phil Thomson: Senior Vice President, Communications and Government Affairs

Don Troy: Senior Vice President & General Counsel

Patrick Vallance: President, Pharmaceuticals R&D

Emma Walmsley: CEO, GSK Consumer Healthcare

Board committees

Audit And Risk Committee

Remuneration Committee

Nominations Committee

Finance Committee

Corporate Social Responsibility Committee

Corporate Administration and Transactions Committee

Audit and risk Committee

Members:Stacey CartwrightLynn ElsenhansSir Deryck MaughanDr. Daniel PodolskySecretary:          Victoria WhyteIn attendance: ChairmanCEO, CFO,General CounselChairman, Global Vaccines Head of Audit & AssuranceSVP, Global Ethics & ComplianceChief Medical Officer, Representative of external auditors, Financial Controller

 Frequency of meetings:               Not less than four times a year

The Audit & Risk Committee reviews:  The integrity of financial and internal

reporting process The integrity of financial statements The external and internal audit processes The system of internal controls and the

identification and management of risks The committee also proposes to shareholders

the appointment, re-appointment and removal of external auditors and is directly responsible for their remuneration and oversight of their work.

Chair: Judy Lewent

Remuneration Committee

Members:Dr Stephanie BurnsJudy LewentSir Deryck MaughanHans WijersSecretary:Victoria WhyteIn attendance:CEO, Head of Human Resources, Head of Reward, Committee adviser - Deloitte LLP, Any Non-Executive Director shall be entitled to attend the committee meetings.

Frequency of meetings:Four times a year and otherwise as necessary.

The Committee consists of Independent Non-Executive Directors and the Chairman

The Chairman and the CEO are responsible for evaluating and making recommendations to the Board on the remuneration of Non-Executive Directors within the terms of the approved Remuneration Policy

Chairman: Urs Rohner

Nominations Committee

Members:Professor Sir Roy AndersonSir Deryck MaughanJudy LewentLynn ElsenhansSecretary:Victoria WhyteIn attendance:CEO, Head of Human Resources, External Advisers - as appropriateFrequency of meetings: The committee meets at least

twice a year to consider succession planning, with other meetings held as required.

The Nominations Committee reviews the structure, size and composition of the Board and the appointment of members to the Board and the CET. The committee also monitors the planning of succession to the Board and senior management. It is also responsible for considering and, if appropriate, authorising conflicts of interest. The committee consists of Independent Non-Executive Directors and the Chairman.

Chairman:Sir Philip Hampton

Finance Committee

Members:All directorsSecretary:Victoria WhyteFrequency of meetings:Held as necessary.

The Finance Committee reviews and approves the following on behalf of our Board: The annual report Form 20-F (for financial reporting in the US) The convening of the annual general meeting Preliminary and quarterly statements of trading

results, dividends and major licensing and capital transactions

Each director is a member of the committee and a meeting can comprise just three members but must include the company chairman, or the chairman of the audit & risk committee, and the CEO or CFO

CSR Committee

Members:Dr Stephanie BurnsLynn ElsenhansDr Daniel PodolskyHans WijersSecretary:Victoria WhyteIn attendance: CEO, Head of Communications and Government Affairs, Head of Human Resources, General Counsel, Head of Corporate Responsibility and Reporting, Global Pharmaceuticals (President), Pharmaceutical R&D(President), Consumer Healthcare(President), Global Manufacturing & Supply(President), Independent External Corporate Responsibility AdviserOther executives are invited to attend the Committee as necessary 

Frequency of meetings:Four times a year or more frequently as necessary.The Corporate Responsibility Committee provides a Board-level forum for the review of external issues that could potentially impact upon our business and reputation. The Committee is also responsible for overseeing our worldwide charitable donations and community support. The Committee consists of Independent Non-Executive Directors and the Chairman.

Chairman:Lynn Elsenhans

Corporate Administration and Transactions Committee

Members:Directors, CET members and the Company Secretary Frequency of meetings:Held as necessary.

The Corporate Administration and Transactions Committee reviews and approves matters in connection with the administration of the business, and of certain corporate transactions. The committee consists of the directors, Corporate Executive Team members and the Company Secretary.

Some Facts and Figures

As of 2013 GSK had offices in over 115 countries and employed over 90,000 people, 12,500 in R&D.

The company's single largest market is the United States. Its US headquarters are in The Navy Yard, Philadelphia, and Research Triangle Park, North Carolina; its consumer-products division is in Moon Township, Pennsylvania.

Total No. of Employees (2015): 96,575

Net Income(2014): £2.831 billion As of 6 May 2015 it had a Market

Capitalization of £73 billion, the fourth-largest of any company listed on the London Stock Exchange.

Key achievementsWe are the 1st pharmaceutical company to sign up to the AllTrials campaign for research transparency.

We invested £3.1 billion in 2014 in our search to develop new medicines, vaccines and consumer products.

Four new products approved in 2014

We have around 40 new molecular entities in phase II/III development.

We have 84 manufacturing sites in 36 countries making our medicines, vaccines and consumer healthcare products.

4 billion albendazole tablets donated to eliminate two neglected tropical diseases since 1998.

More than 13,000 people work in R&D in our search for new medicines, vaccines and consumer healthcare products.

In 2014, we distributed more than 800 million doses of vaccines around the world.

We employ around 98,000 people in over 100 countries, with more than a third of these in emerging markets.

In March 2015 we acquired Novartis’s vaccines business (excluding influenza vaccines) and combined our Consumer Healthcare businesses to create a new company.

References:

https://www.gsk.com/ https://en.wikipedia.org/wiki/GlaxoSmithKline www.google.com

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