1.1GlaxoSmithKline
GlaxoSmithKline (GSK) is the worlds second largest pharmaceutical, biological and healthcare company (as per 2004 figures). Its sales touched GBP 20 billion tame a profit of GBP 6 billion approximately. It employs around 100,000 mess worldwide, with over 40,000 in the sales and marketing teams. Primarily headquartered in London, with dual US headquarters in Philadelphia and Research triplicity Park. GSKs prime activities include creation, discovery, development, manufacture, and marketing pharmaceutical and consumer health-relatedproducts.
GSK operates by and large in two segments, Pharmaceuticals and Consumer Healthcare. GSK has more than 36,000 SKUs manufactured crossways over 80 manufacturing plants worldwide. GSK has a market share of septet percent in the pharmaceutical business.
The UKs biggest pharmaceutical group, GSK, formed in 2000 by the $79bn mega-merger between GlaxoWellcome and SmithKline Beecham (Source RNS).
2.0 Challenges
The major challenges are the financial crisis and what to await? Britain is bracing itself for thousands of job losses. A full global threefold downward spiral in which the damaged balance sheets in the household sector led to reduced consumption and thusly reduced investment and employment (Starbiz pg 13, 15 April 2009).
Government and rally bank interventions in the financial sector and the real thrift is hoped to gain traction.
The pharmaceutical industry is experiencing a time of unparalleled challenge. Patent expiries, regulatory issues and increased pressures from healthcare providers have combine to create an environment where the sector is associated with lower growth and higher(prenominal) risk of infection. GSK addressing these challenges through three key strategic priorities which will commute the company into a company that delivers more growth, less risk and an improved financial performance (Annual Report 2008, page 4).
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