Thursday, 14 April 2011
CASE 262 - Glaxosmithkline
GlaxoSmithKline plc (LSE: GSK NYSE: GSK), often abbreviated to GSK, is a global pharmaceutical, biologics, vaccines and consumer healthcare company headquartered in London, United Kingdom. It is the world's third largest pharmaceutical company measured by revenues (after Johnson & Johnson and Pfizer). It has a portfolio of products for major disease areas including asthma, cancer, virus control, infections, mental health, diabetes and digestive conditions. It also has a large consumer healthcare division which produces and markets oral healthcare products, nutritional drinks and over-the-counter medicines, including Sensodyne, Horlicks and Gaviscon.
Its primary listing is on the London Stock Exchange and it is a constituent of the FTSE 100 Index. It has a secondary listing on the New York Stock Exchange.
As the second largest pharmaceutical company in the world, based on net income, the company had sales of £22.7 billion and made a profit of £7.8 billion in 2007. It employs over 90,000 people worldwide, according to GSK website, including over 40,000 in sales and marketing. Its global headquarters are GSK House in Brentford, London, United Kingdom, with its United States headquarters based in Research Triangle Park (RTP) in North Carolina and its consumer products division based in the Pittsburgh suburb of Moon Township, Pennsylvania. The research and development division has major headquarters in South East England, Philadelphia and Research Triangle Park (RTP) in North Carolina.
The company's stock is listed on the London stock exchange and ADRs are listed on the NYSE. The single largest market is in the United States (approximately 45% of revenue), although the company has a presence in almost 70 countries.
In November 2009 GlaxoSmithKline formed a joint venture with Pfizer to create ViiV Healthcare. Viiv Healthcare received all of Pfizer and GlaxoSmithKline's HIV assets. ViiV Healthcare is 85% owned by GlaxoSmithKline and 15% owned by Pfizer.
The company's products include: