DOCSLIB.ORG

What Will Novartis Do with $13Bn Cash Pile from GSK?

Total Page：16

File Type：pdf, Size：1020Kb

Download full-text PDF Read full-text
What Will Novartis Do with $13Bn Cash Pile from GSK? 6 April 2018 No. 3899 Scripscrip.pharmaintelligence.informa.com Pharma intelligence | informa Eric Le Berrigaud, an analyst at Bryan Gar- nier, said in an investor note March 27 that $13bn “is a touch above our estimated trans- action price.” He added that the sale will provide Novartis “with more financial flexibil- ity to be used exceptional share buy-backs or access to more strategic alternatives i.e. broadening the range of targets for potential bolt-on acquisitions fitting its core business- es.” It is “strategically good for Novartis given that it simplifies and focuses its organization.” Analysts at Deutsche Bank noted that the deal would be dilutive to the tune of around 3.5% per year to core earnings per share un- less Novartis deploys the cash elsewhere. They wrote that “disappointingly, the company is vague in this regard, discussing only its stan- dard capital allocation policy, rather than any Shutterstock: Nomad_Soul Shutterstock: pre-prepared statement for a commitment to reduce the dilution through a share buy back. As such, Novartis management has the abil- What Will Novartis Do With $13bn ity to create shareholder value through this transaction but the jury remains out for now.” The jury appears to be in at Société Gé- Cash Pile From GSK? néral, where analysts issued a note say- KEVIN GROGAN [email protected] ing that the $13bn price tag “is a positive surprise” as they had valued the stake at ovartis AG CEO Vas Narasimhan capital to grow our core businesses, drive $10.6bn. They wrote that they expect Nara- has only been in the hot seat for a shareholder returns and execute value-cre- simhan “to refocus the company on innova- Ncouple of months but is wasting no ating bolt-on acquisitions.” Narasimhan also tion,” believing that Novartis will give more time in transforming the firm into a pure stressed his often-repeated message about details about its plans to redeploy the cash pharma player, selling its stake in a con- building “the leading medicines company, with its first quarter results on April 19. sumer healthcare joint venture with Glaxo- powered by digital and data.” Ian Hilliker, an analyst at Jefferies said in a SmithKline PLC for $13bn. The news comes as no great surprise, note that as the consumer healthcare sec- The Swiss major would appear to have given that the JV, created in 2015 as part of tor “does appear to be facing more difficult got a good deal, given that the figures that a three-part transaction between the two times at present, with increased competi- had been mentioned for the 36.5% stake companies, gave Novartis a put option, exer- tion, or price pressure from e-commerce, had been in the region of $9-12bn. Nara- cisable from March 2, 2018 to March 2, 2035, this looks to be a strategically well-timed de- simhan certainly thinks so, saying in a state- to require GSK to purchase its stake, or parts cision for Novartis.” Noting that the initial dis- ment that while its consumer healthcare of it. Many analysts thought that an asset posal of the JV stake will be dilutive, he said JV with GSK is progressing well, “the time is swap might have taken place but the Swiss “we would expect that Novartis will look to redeploy some of these proceeds fairly right for Novartis to divest a non-core asset major has only waited 25 days to exercise its quickly to help mitigate any dilution. It is at an attractive price.” He went on to say that option and take the cash. The question now “this will strengthen our ability to allocate is what Novartis will do with the money. CONTINUED ON PAGE 6 BROUGHT TO YOU BY THE EDITORS OF PHARMASIA NEWS, START-UP AND SCRIP INTELLIGENCE Shire’s Suitors J&J’s Price Pledge Amazon’s Adventures Takeda’s interest set to flush What’s the whole story? Expansion into healthcare out others (p7-8) (p13) a major disruption (p10) IN THIS ISSUE from the editor [email protected] Looking back at the first quarter of 2018, defining panies including Pfizer and Merck & Co have outlined themes and stories in the pharma space have included plans to return cash to shareholders, invest in capital the corporate tax reform in the US that was finally passed projects and pay employee bonuses, for example. at the end of 2017, and the increasing encroachment of As for digital disruption, minds have become in- digital technology and data in the world of healthcare. creasingly focused on the possibility that Amazon President Trump’s tax reform prompted fresh expec- will transform the drug distribution system (p10); the tations of a new wave of M&A, which has yet to mate- online retail giant’s partnership with JP Morgan and rialize in any serious way: there have been few >$1bn Berkshire Hathaway in January remains shrouded in transactions and no mega-mergers, and aside from the mystery but is significant as its first foray into health Celgene-Juno buy the larger deals have been predomi- care. That sense of looming disruption to current dis- nantly ex-US (Sanofi buying Ablynx and Bioverativ, tribution models in the US is compounded by govern- GlaxoSmithKline buying Novartis out of their con- ment threats of cost controls. Changing business mod- sumer health joint venture). Watch this space, though, els and consolidation in the PBM sector, with pharma Takeda’s revelation that it is thinking about making an veterans being brought into prominent leadership po- offer for Shire could kick start a competitive flurry (p7). sitions, indicates how seriously the market incumbents Tax reform is also prompting other investment: com- are taking the threat (p18). LEADERSHIP ADVERTISING DESIGN Phil Jarvis, Mike Ward Christopher Keeling Paul Wilkinson SUBSCRIPTIONS DESIGN SUPERVISOR Scrip Daniel Frere Gayle Rembold Furbert EDITORS IN CHIEF John Hodgson EDITORIAL OFFICE Eleanor Malone (Europe) Ian Schofield Christchurch Court Denise Peterson (US) Vibha Sharma 10-15 Newgate Street Ian Haydock (Asia) Joanne Shorthouse London, EC1A 7AZ Sten Stovall CUSTOMER SERVICES EXECUTIVE EDITORS US Tel: +44 (0)20 7017 5540 COMMERCIAL Michael Cipriano or (US) Toll Free: 1 800 997 3892 Alexandra Shimmings (Europe) Derrick Gingery Email: clientservices@ Mary Jo Laffler (US) Joseph Haas pharma.informa.com Emily Hayes POLICY AND REGULATORY Mandy Jackson TO SUBSCRIBE, VISIT Maureen Kenny (Europe) Cathy Kelly scrip.pharmaintelligence.informa.com Nielsen Hobbs (US) Jessica Merrill TO ADVERTISE, CONTACT Brenda Sandburg [email protected] Bridget Silverman EUROPE Sue Sutter Neena Brizmohun Francesca Bruce ASIA John Davis Anju Ghangurde All stock images in this publication Lucie Ellis Jung Won Shin courtesy of www.shutterstock.com Kevin Grogan Brian Yang unless otherwise stated Scrip is published by Informa UK Limited. ©Informa UK Ltd 2018: All rights reserved. ISSN 0143 7690. 2 | Scrip | 6 April 2018 © Informa UK Ltd 2018 Ipsen’s Oncology Dream Shadows Over Hemlibra 20 9 14 Mother Of All Cytokines 19 exclusive online content inside: COVER / What Will Novartis Do With $13bn Cash Pile From GSK? Repatha Inroads Build Gradually As EU Extension Nears 4 GSK Gains Clarity For Pharma Focus Through Novartis https://bit.ly/2GSuIc4 Consumer JV Buy Europe is expected to follow where the US led in expanding 6 GSK’s Horlicks Review Plan – Some Early Expectations the label for Amgen’s PCSK9 inhibitor Repatha to include a prevention indication for heart attacks and strokes. But growth In India will be hard-won. 7 Takeda’s Interest Likely To Flush Out Further Shire Suitors PCSK9 Add-On Study Helps Esperion Cover 8 Availability More Than Strategy Driving Takeda’s All The Bases With Bempedoic Acid Shire Interest? https://bit.ly/2GSsTfe Phase II data on use with PCSK9 injectable support bempedoic 9 Japan Nod Positive For Hemlibra But Shadows Linger acid’s safety and efficacy profile as an add-on therapy in high cholesterol. 10 Amazon And The Case For Major Health Care Disruption Nichi-Iko Aims For ‘Commanding Presence’ 11 FDA Refuse-To-File Letter Delays Alkermes Depression Drug In Japan Generics Via Eisai Alliance https://bit.ly/2JfSkFN 12 Pfizer May Enjoy Cardiomyopathy Success With Tafamidis Eisai has become the latest R&D-based pharma company in 13 J&J Price Pledge: But Average Doesn’t Tell The Whole Story Japan to offload its non-innovative products as it seeks to maximize their sales and focus more on novelty. 14 Ipsen Dreams Of Capital Position In Oncology Ex-Teva Executive To Steer Dr Reddy’s As COO 15 Edge ‘Devastated’ By Phase III Failure of EG-1962, https://bit.ly/2q0Cru0 Set To Downsize Erez Israeli, ex-Teva long-timer, is set to take over as Dr Reddy’s chief operating officer and global head of the generics and PSAI 16 Ablynx’s Lupus Candidate Hits End Of Road (pharmaceuticals services and active ingredients) businesses, as the Indian firm tackles multiple operational challenges. 17 Sanofi’s Keeney ‘Open Dialogue’ With Asian Start-Ups Biohaven Posts Positive Migraine Results, 18 Welcome To The PBM Realm, Derica Rice and Andrew Witty But Investors Are Wary 19 Scrip’s Rough Guide To IL-2: Mother Of All Cytokines https://bit.ly/2q12n9v Biohaven’s stock price fell significantly after it reported positive 22 Pipeline Watch Phase III results for rimegepant in the acute treatment of migraine, but concerns about differences between the 23 China Roundup: Innovent I/O Setback, Adagene, company’s Phase II and III data eased as potential benefits over Hua Bag Millions, WuXi Relisting Allergan’s competing oral CGRP inhibitor emerged. 23 Appointments Phase II Study Opens Window For Sellas’ NeuVax In Triple-Negative Breast Cancer https://bit.ly/2H58p07 Sellas is pursuing accelerated approval for NeuVax in triple- negative breast cancer based on Phase II data, but that may be a tough sell with the FDA.
Load more

Recommended publications
  • The Everyday Lives of Recovering Heroin Users
    The everyday lives of recovering heroin users Joanne Neale Sarah Nettleton Lucy Pickering The everyday lives of recovering heroin users The everyday lives of recovering heroin users Joanne Neale Sarah Nettleton Lucy Pickering Joanne Neale Professor of Public Health Faculty of Health & Life Sciences Oxford Brookes University Jack Straw’s Lane Marston Oxford OX3 0FL Email: [email protected] Sarah Nettleton Reader in Sociology Department of Sociology Wentworth College University of York Heslington York YO10 5DD Email: [email protected] Lucy Pickering Lecturer in Anthropology School of Social and Political Sciences University of Glasgow Adam Smith Building Glasgow G12 8RT Email: [email protected] Published by the RSA 8 John Adam Street London WC2N 6EZ +44 (0)20 7930 5115 Registered as a charity in England and Wales no. 212424 and in Scotland no. SCO 37784 Copyright © Joanne Neale 2012 The RSA is an enlightenment organisation devoted to finding innovative and practical solutions to today’s pressing social problems Cover photo: ‘Wings of butterfly,’ John Foxx. © Thinkstock Designed by Soapbox, www.soapbox.co.uk Printed and bound by CPI Antony Rowe www.theRSA.org Contents Acknowledgements 9 Foreword 10 Chapter 1: Setting the scene 14 Why read this book? 14 Why focus on recovery? 15 What is recovery? 15 A study of the everyday lives of recovering heroin users 17 Structure of the book 18 Chapter 2: Considering recovery 20 Introduction 20 Mapping services and support 20 Factors that can encourage and sustain recovery efforts
    [Show full text]
  • In This Section
    Strategic report In this section Chairman’s statement 2 CEO’s review 4 Business overview 6 The global context 8 Our business model 12 Our strategic priorities 14 How we performed 16 Risk management 18 Grow 20 Deliver 32 Simplify 44 Our financial architecture 48 Responsible business 50 Financial review 58 Strategic report Chairman’s statement Chairman’s statement To shareholders The value of the significant changes that have been made in recent years is evidenced in our performance this year “ Since Sir Andrew became It is clear from the following pages that Through the Audit & Risk Committee, we the Group made good progress against oversee the issues and challenges faced by CEO, the company has its strategy in 2013. management, and encourage the creation of an environment in which GSK can achieve The Board believes the business is seeing returned £30 billion its strategic ambitions in a responsible and the benefits of the significant changes the sustainable manner. to shareholders.” management team has driven over recent years to deliver sustainable growth, reduce risk and I have no doubt that commercial success is enhance returns to shareholders. directly linked to operating in a responsible way and which meets the changing expectations of The notably strong performance from the society. In this respect, the company continues R&D organisation in 2013 – with six major to adopt industry-leading positions on a range new product approvals in areas including of issues. respiratory disease, HIV and cancer – is critical to the longer-term prospects of the The announcement of plans during 2013 to Group.
    [Show full text]
  • Glaxosmithkline Plc Annual Report for the Year Ended 31St December 2000
    GlaxoSmithKline 01 GlaxoSmithKline plc Annual Report for the year ended 31st December 2000 Contents Report of the Directors 02 Financial summary 03 Joint statement by the Chairman and the Chief Executive Officer 05 Description of business 29 Corporate governance 37 Remuneration report 47 Operating and financial review and prospects 69 Financial statements 70 Directors’ statements of responsibility 71 Report by the auditors 72 Consolidated statement of profit and loss 72 Consolidated statement of total recognised gains and losses 74 Consolidated statement of cash flow 76 Consolidated balance sheet 76 Reconciliation of movements in equity shareholders’ funds 77 Company balance sheet 78 Notes to the financial statements 136 Group companies 142 Principal financial statements in US$ 144 Financial record 153 Investor information 154 Shareholder return 156 Taxation information for shareholders 157 Shareholder information 158 Share capital 160 Cross reference to Form 20-F 162 Glossary of terms The Annual Report was approved by the Board 163 Index of Directors on 22nd March 2001 and published on 12th April 2001. Contact details 02 GlaxoSmithKline Financial summary 2000 1999 Increase Business performance £m £m CER % £ % Sales 18,079 16,164 9 12 Trading profit 5,026 4,378 12 15 Profit before taxation 5,327 4,708 11 13 Earnings/Net income 3,697 3,222 13 15 Earnings per Ordinary Share 61.0p 52.7p 14 16 Total results Profit before taxation 6,029 4,236 Earnings/Net income 4,154 2,859 Earnings per Ordinary Share 68.5p 46.7p Business performance: results exclude merger items and restructuring costs; 1999 sales and trading profit exclude the Healthcare Services businesses which were disposed of in 1999.
    [Show full text]
  • Quite Often , a Jar of Horlicks Occupies a Visible Position in a Bangladeshi
    www.horlicks.com Quite often, a jar of Horlicks occupies a visible position in a Bangladeshi household. Successive generations of the country over the past half century have consumed it- stirred in as glass of hot milk or water- and become totally confirmed believers in Horlick's virtues of good health and nutrition. I t is a nutritional drink made from wheat, milk and malted barley and contains essential vitamins and minerals for wholesome nourishment of the entire family. Horlicks, ' The Great Family Nourisher' is the leading Health Food Drink in the country. Today, the modern Horlicks stands for trust and it s promise of ' Pleasurable Nourishment'. For over a century now Horlicks has provided a strong nourishment platform to both children and adults and believes that this nourishment platform can be a key enabler in helping an individual maximize his/her potential. Market Product Worldwide, the major markets of Horlicks are: U.K., Put a couple of tablespoons full into a mug; add India, Hong Kong, Australia and New Zealand, warm water or milk and you're ready to enjoy a Caribbean, Central America, Middle East, Africa, drink that's tasty and nourishing. Horlicks is also Pakistan, Asia. available in chocolate flavour, which combines the benefits of Horlicks nourishment and a wonderful After India, the 2nd biggest market for Horlicks in new taste. Add ice cubes, cold milk or water to Asia region is Bangladesh, where it has traditionally been marketed as 'The Great Family Nourisher, until 2007. Since 2007, with a new product promise, "Horlicks makes kids Taller, Stronger, Sharper- Now proven" it has positioned itself as a special nutritional drink for kids aged between 6 - 14 years.
    [Show full text]
  • Your Kidneys and What They Do
    Chapter Headings CHAPTER HEADINGS The Library is split into several chapters click on the section you require for more information + 1.Your Kidneys & What They Do + 2. Diseases & Conditions + 3. Treatments & Investigations + 4. Peritoneal Dialysis + 5. Haemodialysis + 6. Transplant + 7. Living With Kidney Disease + 8. Support Services + 9. Diet + 10. Drugs + 11. Research + 12. Glossary file:///C|/Program Files/My stuff/Back from Eiddwen Updated WKPL Files/Chapter Headings/chapter_headings_main.htm09/12/2009 10:21:57 CHAPTER HEADINGS CHAPTER 2 DISEASES & CONDITIONS This section has more than one leaflet please choose the leaflet you wish to view by clicking the blue underlined text + 2. Diseases & Conditions - Alport's Syndrome - Analgesic Nephropathy - Autosomal Dominant Polycystic Kidney Disease - Diabetes and Kidney failure - Glomerulonephritis - Gout and Kidney patients - High Blood Pressure - Hyperparathyroidism & renal bone disease - IgA Nephropathy file:///C|/Program Files/My stuff/Back from Eiddwen Updated WKPL Files/Chapter Headings/chapter_headings_section2.htm (1 of 2)08/12/2009 15:36:38 CHAPTER HEADINGS - Lupus - Systemic Lupus Erythematosus - Myeloma - Nephrotic Syndrome - Obstructive Uropathy - Pain-killers & the kidney - Pyelonephritis - Simple Cysts - Urinary Tract Infection - Vasculitis file:///C|/Program Files/My stuff/Back from Eiddwen Updated WKPL Files/Chapter Headings/chapter_headings_section2.htm (2 of 2)08/12/2009 15:36:38 Alport’s Syndrome Alport’s Syndrome What is Alport’s Syndrome? Alport’s Syndrome is an inherited condition that causes abnormal development of the kidney. This abnormal development allows damage to occur to the capillary membranes of the glomeruli. These structures act as filters, removing excess water and waste from the blood. The damage is gradual and leads to kidney failure.
    [Show full text]
  • Self Study Report Ii Cycle
    The ICFAI Foundation for Higher Education (Declared as Deemed-to-be University under Section 3 of the UGC Act, 1956) Donthanapally, Shankarapalli Road Hyderabad – 501 203, Telangana. Tel: 040 – 23479999 Website: http://www.ifheindia.org e-mail:[email protected] Fax: 08417 – 236653 SELF STUDY REPORT II CYCLE Submitted to The Director National Assessment and Accreditation Council (NAAC) Nagarbhavi, Bangalore – 560 072, Karnataka January – 2015 TABLE OF CONTENT Profile of the University 7 Milestones 25 NAAC Peer Team Recommendations 2009 27 Action Taken Report – NAAC Peer Team Recommendations 2009 31 Action Taken Report –UGC Review Committee Recommendations 2009 39 Executive Summary 47 Criteria-Wise Inputs Criterion I: Curricular Aspects 69 Criterion II: Teaching-Learning and Evaluation 98 Criterion III: Research, Consultancy and Extension 155 Criterion IV: Infrastructure and Learning Resources 262 Criterion V: Student Support and Progression 286 Criterion VI: Governance, Leadership and Management 349 Criteria VII: Innovations and Best Practices 389 Shri N. J. Yasaswy (1950 – 2011) Founder The ICFAI Group Shri N.J.Yasaswy, the founder of the ICFAI Group of Educational Institutions was a pioneer and trailblazer in promoting higher education in the Private Sector. He conceptualized, developed and built competitive and top graded Business schools in India apart from creating 11 Universities in the developing states of India (including in the North East) single-handedly. He wanted to nurture and groom young students - who had the will to learn but were unable to gain entry into the premier management institutes for a variety of reasons. He built a Temple of Learning offering value based education, industry- focused curriculum and employable skills.
    [Show full text]
  • Glaxosmithkline Annual Report 2010
    Do more, feel better, live longer GlaxoSmithKline Annual Report 2010 Contents Business review P08–P57 Business review 2010 Performance overview 08 Research and development 10 Pipeline summary 12 Products, competition and intellectual property 14 Regulation 18 Manufacturing and supply 19 Business review World market 20 This discusses our financial and non-financial activities, GSK sales performance 21 resources, development and performance during 2010 Segment reviews 22 and outlines the factors, including the trends and the Responsible business 29 principal risks and uncertainties, which are likely to Financial review 2010 34 affect future development. Financial position and resources 41 Financial review 2009 47 Governance and remuneration Risk factors 53 This discusses our management structures and governance procedures. It also sets out the Governance and remuneration P58–P101 Governance and remuneration Governance and remuneration remuneration policies operated for our Directors and Our Board 58 Corporate Executive Team members. Our Corporate Executive Team 60 Governance and policy 64 Financial statements Dialogue with shareholders 69 The financial statements provide a summary of the Internal control framework 71 Group’s financial performance throughout 2010 and its Committee reports 74 position as at 31st December 2010. The consolidated Remuneration policy 84 financial statements are prepared in accordance with Director terms and conditions 91 IFRS as adopted by the European Union and also IFRS as Director and Senior Management remuneration 94 issued by the International Accounting Standards Board. Directors’ interests 96 Directors’ interests in contracts 101 Shareholder information This includes the full product development pipeline and discusses shareholder return in the form of dividends and share price movements.
    [Show full text]
  • LOVE of FOOD-08092020.Cdr
    ISSUE 01 Vol. 01 EDITION 1 - SEPTEMBER 2020 QUICK RECIPES DELICIOUSLY HEALTHY MEET OUR BE FUTURE CHEFS READY A CULINARY JOURNEY OF OUR INHOUSE SODEXO IS CONTINUOUSLY LOOKING AT CHEFS THESE CREATIVE YOUNG MINDS WAYS INTO ADAPTING OUR FOOD ARE TRANSFORMING SODEXO’S SERVICES TO MEET OUR CLIENT AND CULINARY LANDSCAPE AND CONSUMER'S REQUIREMENT REIMAGINING HOW DINERS EAT OUT THROUGHOUT THIS CHALLENGING TIME. CREATIVITY & INNOVATION HAS ALWAYS BEEN THE FOCAL POINT OF OUR WORK 1. FROM THE DIRECTOR’S DESK 2. MEET OUR CHEF’S Ronald Minezes - Head, Portfolio & Services Development Ashwin Iyangar - Sr Project Manager, Culinary Services Shobhit Mohan - Menu Program Manager, DRIVE Puneet Khanna - Retail Head, Education 3. QUICK RECIPES - Deliciously Healthy 4. HOT WOK - Innovation Unchallenged 5. BE FUTURE READY 6. MEET THE FOOD PLATFORM TEAM from the DIRECTOR'S DESK Welcome to the 1st edition of the Love of Food E-Book, India. As we enter We have come up with a unique food per specic client requirement by our team of the 6th year of transformation of Food Services at Sodexo our Food solutions wherein the menu has been curated Chefs. Experts and SME’s have developed innovative Food Offers, Mouth by our chefs keeping in mind current Watering Culinary Recipes and Best in Class Services to enhance the requirements in a changed environment, As we move forward, we see a second overall experience for our clients and consumers. Love of Food has always ensuring that the menu is not labor intensive transformation and focus towards getting our been at the center of what we do in the Food Platform, supporting four and requires minimum human intervention.
    [Show full text]
  • GSK Thwarts the Attempted “Scooping” of Its HORLICKS Trademark
    GSK Thwarts the Attempted “Scooping” of its HORLICKS Trademark March 13, 2019 By Amrita V. Singh The Federal Court of Canada has rejected an application by Bedessee Imports Ltd., an importer and distributor of food products, including beverages, drinks and drink mixes, to expunge GlaxoSmithKline’s (“GSK”) longstanding HORLICK’S and HORLICKS trademark registrations. HORLICKS branded malted milk powder was originally developed for children and people with health ailments, and later became known as a meal replacement drink. It is widely sold internationally.[1] Bedessee brought its application in 2017, claiming that the HORLICK’S and HORLICKS marks were not registrable when they were registered, were not distinctive, and had been abandoned. In 2017, Bedessee had also filed its own proposed use application for HORLICKS in association with “malted milk powder drink mix, drinks,” and other goods. GSK’s evidence showed that its Canadian consumer healthcare business, which is and was responsible for the HORLICKS products, has imported the HORLICKS products and then distributed them through Canadian grocery stores, retail stores and specialty markets. GSK’s evidence also showed that its worldwide sales of HORLICKS products in 2017 exceeded $600 million USD. The HORLICKS Marks were Registrable when Registered In support of its position that the HORLICKS Marks were not registrable when registered, Bedessee pointed to a dictionary definition from 1907 for “Horlick’s Food”, ten years before the registration date, which the Court found irrelevant to its assessment of registrability in 1917. Bedessee also relied upon historic advertisements prior to 1917 purporting to use HORLICKS generically, and argued the advertisements could prove a mark is descriptive or generic.
    [Show full text]
  • Annual Report 2015
    Annual Report 2015 2015 saw substantial progress to accelerate new product sales growth and strengthen our Pharmaceuticals, Vaccines and Consumer Healthcare businesses Overview of 2015 Strategic report “ In 2015, we made substantial progress to accelerate new product sales growth, integrate new businesses in Vaccines and Consumer Healthcare and restructure our global Pharmaceuticals business. This progress means the Group is well positioned to return to core earnings growth in 2016.” Sir Andrew Witty, Chief Executive Officer Governance & remunerationPerformance Financial statements summary Investor information £23.9bn £10.3bn £5.7bn £3.9bn Group turnover Total operating profit Core operating profit Cash dividends paid (up 6% CER/up 1% CER (up >100% CER) a (down 9% CER/down 3% in 2015 pro-forma) a CER pro-forma)a £2.0bn 174.3p 75.7p 10 0 % New product sales b Total earnings per share Core earnings per share Markets now operating (up >100%) (up >100%, primarily (down 15% CER, primarily new commercial model reflecting impact of reflecting short-term dilution transaction gains) of the Novartis transaction)a ~40 20 ~13 % 1st Potential new medicines Potential to file up to Estimated internal In Access to Medicine and vaccines profiled at R&D 20 assets with regulators rate of return in R&D Index event, 80% of which have by 2020 in 2015 potential to be first-in-classc Footnotes a We use a number of adjusted measures to report the performance of our business, as described on page 54. These include core results, CER growth rates and pro-forma CER growth rates. A reconciliation of total results to core results is set out on page 62.
    [Show full text]
  • Trainer Guide: Training of LAC Counsellors
    TRAINING OF LAC COUNSELLORS TRAINER’S GUIDE Care, Support & Treatment Division Basic Services Division Department of AIDS Control (NACO) Ministry of Health and Family Welfare Government of India 2012 1 Acknowledgments Contributors: Dr. Melita Vaz Programme Officer (Counselling) Ms Sumitha Chalil Technical Officer (Counselling) Ms Nisha Kadyan Technical Officer (Nursing) Reviewers: Though the reviewers are not known to the team of contributors, their inputs helped to shape the early draft copy. Also Dr. B.B. Rewari National Programme Officer (ART) Dr. Reshu Agarwal Programme Officer (CST) Field Testing: Counsellors of Andhra Pradesh Dr. Christopher Nathan Regional Co-ordinator, Andhra Pradesh Dr. Po-Lin Chan World Health Organisation Dr. Tarak Shah Centers for Disease Control Prof. Harilakshmi Andhra University, Vishakhapatnam (Saksham Project) Special Contribution: Saksham Project for permission to adapt the Kaun Banega Sanjeev Kapoor exercise Dr. Suresh Shastri for photographs on a Child-Friendly LAC ART Centre team at BJMC, Ahmedabad, Gujarat 2 Table of Contents Page No Acknowledgments 2 Table of Contents 3 Introduction to the training package 5 Sample Programme Schedule 6 Sessions at a Glance 7 Note about the Development of this Package 9 Note for SACS 10 Pre-Post training questionnaire 12 Pre-Post training questionnaire Answer key 18 Reporting sheet for Item 23 20 Session 1: Understanding the Link ART Centre 21 Session 2: Counselling at the Link ART Centre 28 Session 3: Basics of Antiretroviral therapy 31 Session 4: Opportunistic Infections and their Management 38 Session 5: Adherence Counselling at the Link ART Centre 39 Session 6: Adherence Counselling for Children at the Link ART Centre 54 Session 7: Teaching the Use of the Adherence Calculator 73 Session 8: Nutrition Counselling 79 Session 9: Pre-ART Care 88 Session 10 89 Annexures 90 3 4 Introduction Who does the training package address? This package addresses the capacity development needs of counsellors working at Link ART Centres.
    [Show full text]
  • 1 GLAXOSMITHKLINE ACCELERATING OUR STRATEGY: GSK to ACQUIRE FULL OWNERSHIP of CONSUMER HEALTHCARE BUSINESS Tuesday, 27 March
    GLAXOSMITHKLINE ACCELERATING OUR STRATEGY: GSK TO ACQUIRE FULL OWNERSHIP OF CONSUMER HEALTHCARE BUSINESS Tuesday, 27 March 2018 Analyst Call @ 14.00 hrs Balbir Kelly-Bisla (Director of Investor Relations): Good morning and good afternoon everyone. Thank you for joining us to discuss the transaction we announced earlier today. You should have received our press release and can view the presentation on GSK's website. For those not able to view the webcast, slides that accompany today's call are located on the Investor section of the GSK website. Cautionary statement regarding forward-looking statements Before we begin, please refer to slide 2 of our presentation for our cautionary statements. Agenda Our speakers today are Chief Executive Officer, Emma Walmsley, Simon Dingemans, Chief Financial Officer, and Brian McNamara, CEO of our Consumer Healthcare business. Following our presentation, we will open the call to questions and answers. We request that you ask only a maximum of two questions so that everyone has a chance to participate and with that I will hand the call over to Emma. Emma Walmsley (CEO): Thank you, Balbir, and a very good morning and good afternoon to everybody. Balanced business to deliver growth and returns to shareholders I am delighted to be here to discuss the announcement we made earlier today on the agreement to buy out Novartis' stake in our Consumer Healthcare joint venture. A strategic strength for GSK is our business profile beyond Pharma, the sustainable growth, returns and cashflows. Today's agreement strengthens one of our three global businesses and will support overall performance and capital planning for the group.
    [Show full text]