GlaxoSmithKline (GSK) is one of the world’s top healthcare companies that researches and produces a broad range of medicines. The company was established in the year 2000 and since then their products have been used by millions. They hold primary areas of business in pharmaceuticals, vaccines and consumer healthcare.
GSK’s current headquarters are located in the UK and, being a multinational company, their offices spread all over the world covering more than 115 countries. Their major research centres are situated in the UK, US, China, Spain, Belgium, and they also have 87 manufacturing sites globally.
Officially established in 2000, the company’s ancestors go back as far as 300 years. The forerunners of what we now call GlaxoSmithKline were involved in the development of many life changing treatments from very old ages, ranging from 1800s laxatives to the 1970s amoxicillin which would later become a widely-used antibiotic.
However, the final merge was conducted between Glaxo Wellcome and SmithKlineBeecham which turned out to mutually create today’s GlaxoSmithKline. In the same year of forming the company, GSK made a pledge to developing countries for providing them with HIV medications at a reduced price.
GSK’s mission and vision
GSK’s vision is for their value chain to be carbon neutral by the year 2050. Their business ensures a path of increasing growth, reducing risk and improving their long-term financial performance. In order to achieve these fulfilments, the company strategically follows three capital priorities which in turn are:
Growing a diversified global business
Even after having many controversies as an individual company, GSK has diligently worked their way up to creating a more balanced business and product portfolio which now delivers them a sustainable sales growth.
Increasing their investments in their higher-growth areas such as the Japan market, they successfully achieved balancing their efficiency and effectiveness in their industry over the globe.
Delivering more products of value
The company conducted many ways of turning their products around to face maximum quality which in turn gives millions of patients a better treatment and provides valuable medicines for better health.
Simplifying the operating model
In a fast-paced world it is easy to lose track of simple ways of operating. GSK has been implementing a global restructuring programme designed to transform their operating methods and reduce the complexity to make things easier to work with.
Key achievements and facts
GlaxoSmithKline has acquired various achievements and conducted many more beneficial operations. For example, between 2008 and 2012, GSK have had 23 new medicaments approved in the US and Europe.
In 2012, the company’s altruism and devotion to people’s well-being brought them to invest up to £4 billion in a research to develop new medicines, vaccines and consumer products.
They employ more than 100,000 people worldwide and manufacture and distribute more than 4 billion packs of products to over 150 countries every year.
They are constantly conducting medical research. Currently they are prioritizing on the World Health Organization’s three main diseases which are malaria, tuberculosis and HIV/AIDS.