Glaxosmithkline Annual Report 2010

Total Page:16

File Type:pdf, Size:1020Kb

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. Financial statements Financial statements Directors’ statement of responsibilities 102 Independent Auditors’ report 103 Financial statements 104 Notes to the financial statements 109 Financial statements of GlaxoSmithKline plc prepared under UK GAAP 188 P102–P191 Shareholder information Shareholder information Quarterly trend 192 Five year record 200 Product development pipeline 203 Share price and dividends 207 Nature of trading market 208 Annual General Meeting 208 Underlying sales growth excludes pandemic products, Investor relations and Registrar 208 Avandia and Valtrex. See page 21. Taxation information for shareholders 210 P192–P212 Glossary of terms 211 CER% represents growth at constant exchange rates. Index 212 Sterling % or £% represents growth at actual exchange rates. See page 21. The calculation of results before major restructuring is described in Note 1 to the financial statements, ‘Presentation of the financial statements’. GSK Annual Report 2010 01 We exist to improve the quality of human life by enabling people to do more, feel better and live longer. We work by respecting people, maintaining our focus on the patient and consumer whilst operating with both integrity and transparency. We are looking to deliver shareholder value through growth of a diversified and global business, by delivering more products of value, simplifying our operating model and by running our business responsibly. What follows is our report to shareholders for 2010. Progress we have made in the year can also be seen by visiting our website: www.gsk.com/corporatereporting Notice regarding limitations on Director Liability under English Law Under the UK Companies Act 2006, a safe harbour limits the liability of Directors in respect of statements in and omissions from the Report of the Directors contained on pages 8 to 101. Under English law the Directors would be liable to the company, but not to any third party, if the Report of the Directors contains errors as a result of recklessness or knowing misstatement or dishonest concealment of a material fact, but would not otherwise be liable. Report of the Directors Pages 8 to 101 inclusive comprise the Report of the Directors that has been drawn up and presented in accordance with and in reliance upon English company law and the liabilities of the Directors in connection with that report shall be subject to the limitations and restrictions provided by such law. Website GlaxoSmithKline’s website www.gsk.com gives additional information on the Group. Notwithstanding the references we make in this Annual Report to GlaxoSmithKline’s website, none of the information made available on the website constitutes part of this Annual Report or shall be deemed to be incorporated by reference herein. Cautionary statement regarding forward-looking statements The Group’s reports filed with or furnished to the US Securities and Exchange Commission (SEC), including this document and written information released, or oral statements made, to the public in the future by or on behalf of the Group, may contain forward-looking statements. Forward-looking statements give the Group’s current expectations or forecasts of future events. An investor can identify these statements by the fact that they do not relate strictly to historical or current facts. They use words such as ‘anticipate’, ‘estimate’, ‘expect’, ‘intend’, ‘will’, ‘project’, ‘plan’, ‘believe’ and other words and terms of similar meaning in connection with any discussion of future operating or financial performance. In particular, these include statements relating to future actions, prospective products or product approvals, future performance or results of current and anticipated products, sales efforts, expenses, the outcome of contingencies such as legal proceedings, and financial results. The Group undertakes no obligation to update any forward-looking statements, whether as a result of new information, future events or otherwise. Forward-looking statements involve inherent risks and uncertainties. The Group cautions investors that a number of important factors, including those in this document, could cause actual results to differ materially from those contained in any forward-looking statement. Such factors include, but are not limited to, those discussed under ‘Risk factors’ on pages 53 to 57 of this Annual Report. GSK Annual Report 2010 02 GSK at a glance We are one of the world’s leading Our 2010 numbers research-based pharmaceutical and healthcare companies. We are £28.4bn 32.1p committed to improving the quality Turnover Earnings per share of human life by enabling people to do more, feel better and live longer. 53.9p 65p Earnings per share before Dividend per share How we do it major restructuring GSK has focused its business on the delivery of three strategic priorities, which aim to increase growth, reduce risk and Group sales improve GSK’s long-term financial performance: 7 • Grow a diversified global business 1 US Pharmaceuticals: £7.6bn 6 • Deliver more products of value 2 Europe Pharmaceuticals: £6.5bn 5 1 • Simplify GSK’s operating model 3 Consumer Healthcare: £5.0bn Where we do it 4 Emerging Markets GSK is a global organisation with offices in over 100 countries Pharmaceuticals: £3.6bn and major research centres in the UK, USA, Belgium and China. 4 Our shares are listed on the London and New York Stock 5 Asia Pacific/Japan Exchanges and our corporate head office is in Brentford, UK. Pharmaceuticals: £3.1bn 6 ViiV Healthcare: £1.6bn 2 3 7 Other: £1.0bn Research & development Consumer Healthcare c. 30 £3.96bn 20% No.1 A peer-leading In 2010, we spent £3.96bn Growth of Horlicks Sensodyne has been the pipeline with around in R&D before major in India in 2010. world’s fastest growing 30 late-stage assets. restructuring, or 14% toothpaste brand over of our total sales. the last 5 years. We are one of the world’s biggest investors in R&D and are the biggest private sector funder of R&D in the UK. 10 14% c.1bn 2 10 new compounds and We are committed to Units of Lucozade, New Consumer Healthcare vaccines starting phase III improving returns in R&D, Ribena and Horlicks Research and Innovation clinical trials since the start aiming to increase our manufactured in centres opened in China of 2010. estimated return the UK every year. and India. on investment in this area to 14%. Vaccines Emerging markets 1.4 bn 24% Doses of our vaccines Of total GSK turnover supplied to 179 countries from emerging markets, around the world in 2010. by the broader definition (Pharmaceutical and Consumer Healthcare turnover in all markets excluding USA, Western Europe, Canada, Japan, Australia and New Zealand). GSK Annual Report 2010 03 GSK at a glance A global company Business review P08–P57 411 2 3 6 5 32 3 2 3 2 2 2 7 3 3 2 2 3 7 5 4 6 2 5 4 3 6 2 3 2 Governance and remuneration P58–P101 Governance and remuneration 2 Sites with over 100 employees: Biologicals Corporate Consumer Healthcare GMS Pharmaceuticals Research and Development % 96,500 5 3 Financial statements Employees. Share of world Leading presence in pharmaceutical market. Consumer Healthcare (Source: IMS Health) global categories: OTC, Oral Care, Nutritionals. GSK’s business model Responsible business A balanced, synergistic business, with multiple growth drivers Malaria vaccine P102–P191 supporting a core pharmaceutical R&D operation. Potentially the first malaria vaccine with phase III trials ongoing in 7 African countries. 300 million Commitment to supply 300m doses of Synflorix at a reduced price to developing countries over the next decade through the AMC financing mechanism. 5-year commitment Shareholder information To treat school age children in Africa at risk of intestinal worms. Leader GSK ranked first in both Access to Medicine Indexes in 2008 Core and 2010. Pharmaceutical 2050 R&D Target date for value chain, from raw materials to product disposal, to be carbon neutral. P192–P212 To find out more visit us at www.gsk.com/corporatereporting GSK Annual Report 2010 04 Chairman & CEO summary Dear Shareholder GSK is also a business built on strong values and a deep commitment to operating with integrity. In 2010 we have taken Over the last two and a half years we have been implementing a further steps to make our company more responsive, more flexible strategy to transform our business model to address the significant and more open to society’s expectations.
Recommended publications
  • UNITED STATES SECURITIES and EXCHANGE COMMISSION Washington, D.C
    UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 SCHEDULE 13D Under the Securities Exchange Act of 1934 (Amendment No. 2)* GENOCEA BIOSCIENCES, INC. (Name of Issuer) Common Stock, Par Value $0.001 (Title of Class of Securities) 372427 10 4 (CUSIP Number) Victoria A. Whyte GlaxoSmithKline plc 980 Great West Road Brentford, Middlesex TW8 9GS England Telephone: +44 (0)208 047 5000 Name, Address and Telephone Number of Person Authorized to Receive Notices and Communications) July 30, 2015 (Date of Event which Requires Filing of this Statement) If the filing person has previously filed a statement on Schedule 13G to report the acquisition that is the subject of this Schedule 13D, and is filing this schedule because of §§240.13d-1(e), 240.13d-1(f) or 240.13d-1(g), check the following box. ☐ Note: Schedules filed in paper format shall include a signed original and five copies of the schedule, including all exhibits. See Rule.13d-7 for other parties to whom copies are to be sent. * The remainder of this cover page shall be filled out for a reporting person’s initial filing on this form with respect to the subject class of securities, and for any subsequent amendment containing information which would alter disclosures provided in a prior cover page. The information required on the remainder of this cover page shall not be deemed to be “filed” for the purpose of Section 18 of the Securities Exchange Act of 1934 (“Act”) or otherwise subject to the liabilities of that section of the Act but shall be subject to all other provisions of the Act (however, see the Notes).
    [Show full text]
  • Corporate Governance
    Strategic report Governance and remuneration Financial statements Investor information Corporate Governance In this section Chairman’s Governance statement 78 The Board 80 Corporate Executive Team 83 Board architecture 85 Board roles and responsibilities 86 Board activity and principal decisions 87 Our purpose, values and culture 90 The Board’s approach to engagement 91 Board performance 94 Board Committee information 96 Our Board Committee reports 97 Section 172 statement 108 Directors’ report 109 GSK Annual Report 2020 77 Chairman’s Governance statement In last year’s Governance statement, I explained that our primary Education and focus on Science objective for 2020 was to ensure there was clarity between the Given the critical importance of strengthening the pipeline, Board and management on GSK’s execution of strategy and its the Board has benefitted from devoting a higher proportion of operational priorities. We have aligned our long-term priorities its time in understanding the science behind our strategy and of Innovation, Performance and Trust powered by culture testing its application. It is important that the Board has a and agreed on the metrics to measure delivery against them. working understanding of the key strategic themes upon The Board’s annual cycle of meetings ensures that all major which our R&D strategy is based. These themes have been components of our strategy are reviewed over the course complemented by Board R&D science thematic deep dives. of the year. Our focus was on the fundamentals of our strategy: human The COVID-19 pandemic impacted and dominated all our genetics, the immune system and AI and ML, as well as to lives for the majority of 2020.
    [Show full text]
  • Governance and Remuneration 2014
    Governance & remuneration reportStrategic In this section Our Board 72 Our Corporate Executive Team 76 Chairman’s letter 78 Corporate governance framework 79 Board report to shareholders Oversight and stewardship in 2014 and future actions 80 remuneration & Governance Leadership and effectiveness 82 Committee reports Audit & Risk 86 Nominations 92 Corporate Responsibility 94 Remuneration report Chairman’s annual statement 96 Annual report on remuneration 97 2014 Remuneration policy report 119 Financial statements Financial Investor information Investor GSK Annual Report 2014 71 Our Board Strategic reportStrategic Diversity Experience International experience Composition Tenure (Non-Executives) % % % % Scientific 19 Global 75 Executive 19 Up to 3 years 39 % % % % Finance 31 USA 100 Non-Executive 81 3-6 years 15 % % % % Industry 50 Europe 94 Male 69 7-9 years 23 % % % EMAP 63 Female 31 Over 9 years 23 Sir Christopher Gent 66 Skills and experience Chairman Sir Christopher has many years of experience of leading global businesses and a track record of delivering outstanding performance Governance & remuneration & Governance Nationality in highly competitive industries. He was appointed Managing Director British of Vodafone plc in 1985 and then became its Chief Executive Officer Appointment date in 1997 until his retirement in 2003. Sir Christopher was also a 1 June 2004 and as Chairman Non-Executive Director of Ferrari SpA and a member of the British on 1 January 2005 Airways International Business Advisory Board. Committee membership External appointments Corporate Responsibility Sir Christopher is a Senior Adviser at Bain & Co. Committee Chairman, Nominations, Remuneration and Finance Sir Philip Hampton 61 Skills and experience Chairman Designate Prior to joining GSK, Sir Philip chaired major FTSE 100 companies including J Sainsbury plc.
    [Show full text]
  • PEDIARIX Is a Vaccine
    HIGHLIGHTS OF PRESCRIBING INFORMATION • If Guillain-Barré syndrome occurs within 6 weeks of receipt of a prior These highlights do not include all the information needed to use vaccine containing tetanus toxoid, the decision to give PEDIARIX should PEDIARIX safely and effectively. See full prescribing information for be based on potential benefits and risks. (5.2) PEDIARIX. • The tip caps of the prefilled syringes contain natural rubber latex which may cause allergic reactions. (5.3) PEDIARIX [Diphtheria and Tetanus Toxoids and Acellular Pertussis • Syncope (fainting) can occur in association with administration of Adsorbed, Hepatitis B (Recombinant) and Inactivated Poliovirus injectable vaccines, including PEDIARIX. Procedures should be in place Vaccine], Suspension for Intramuscular Injection to avoid falling injury and to restore cerebral perfusion following Initial U.S. Approval: 2002 syncope. (5.4) • If temperature ≥105°F, collapse or shock-like state, or persistent, ----------------------------- INDICATIONS AND USAGE ---------------------------- PEDIARIX is a vaccine indicated for active immunization against diphtheria, inconsolable crying lasting ≥3 hours have occurred within 48 hours after tetanus, pertussis, infection caused by all known subtypes of hepatitis B virus, receipt of a pertussis-containing vaccine, or if seizures have occurred and poliomyelitis. PEDIARIX is approved for use as a 3-dose series in infants within 3 days after receipt of a pertussis-containing vaccine, the decision born of hepatitis B surface antigen (HBsAg)-negative mothers. PEDIARIX to give PEDIARIX should be based on potential benefits and risks. (5.5) may be given as early as 6 weeks of age through 6 years of age (prior to the • For children at higher risk for seizures, an antipyretic may be 7th birthday).
    [Show full text]
  • Glaxosmithkline Bangladesh Limited (GSK)
    GlaxoSmithKline Bangladesh Limited (GSK) Recruitment and Selection Process of GlaxoSmithKline Bangladesh Limited: An Evaluation nd Date of Submission: 2 September, 2014 ©Daffodil International University DAFFODIL INTERNATIONAL UNIVERSITY Internship Report On Recruitment and Selection Process of GlaxoSmithKline Bangladesh Limited: An Evaluation Submitted To Dr. Zakir Hossain Dean& Professor Faculty of Business & Economics Daffodil International University Submitted By Ishrat Jahan ID: 131-14-1019 Masters of Business Administration Daffodil International University Date of Submission: 2nd September, 2014 ©Daffodil International University Letter of Transmittal September 2, 2014 To Dr. Zakir Hossain Dean & Professor Faculty of Business and Economics Daffodil International University Dhaka-1205 Subject: Submission of internship report on recruitment and selection process: An evaluation of GlaxoSmithKline Bangladesh Limited Sir, I am highly satisfied to submit my report on recruitment and selection process: an evaluation of GSK. For preparing this report I tried my best to accumulate relevant and upgraded information from available sources. In preparing this report, I tried my level best to make it a complete one and sincerely look forward to any possible correction. I am very glad because you also given the opportunity to prepare this report .I hope that this report will meet the standards of your judgments. Your Sincerely ---------------- Ishrat Jahan ©Daffodil International University i Certificate of the Supervisor This is to certify that the internship report titled ―Recruitment and Selection Process of GlaxoSmithKline Bangladesh Limited: An Evaluation‖, has been prepared by Ms. Ishrat Jahan bearing ID: 131-14-1019 under my supervision, a practical study on GlaxoSmithKline Bangladesh Limited. I think on the basic of declaration Ms.
    [Show full text]
  • 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]
  • Zebrafish Behavioral Profiling Links Drugs to Biological Targets and Rest/Wake Regulation
    www.sciencemag.org/cgi/content/full/327/5963/348/DC1 Supporting Online Material for Zebrafish Behavioral Profiling Links Drugs to Biological Targets and Rest/Wake Regulation Jason Rihel,* David A. Prober, Anthony Arvanites, Kelvin Lam, Steven Zimmerman, Sumin Jang, Stephen J. Haggarty, David Kokel, Lee L. Rubin, Randall T. Peterson, Alexander F. Schier* *To whom correspondence should be addressed. E-mail: [email protected] (A.F.S.); [email protected] (J.R.) Published 15 January 2010, Science 327, 348 (2010) DOI: 10.1126/science.1183090 This PDF file includes: Materials and Methods SOM Text Figs. S1 to S18 Table S1 References Supporting Online Material Table of Contents Materials and Methods, pages 2-4 Supplemental Text 1-7, pages 5-10 Text 1. Psychotropic Drug Discovery, page 5 Text 2. Dose, pages 5-6 Text 3. Therapeutic Classes of Drugs Induce Correlated Behaviors, page 6 Text 4. Polypharmacology, pages 6-7 Text 5. Pharmacological Conservation, pages 7-9 Text 6. Non-overlapping Regulation of Rest/Wake States, page 9 Text 7. High Throughput Behavioral Screening in Practice, page 10 Supplemental Figure Legends, pages 11-14 Figure S1. Expanded hierarchical clustering analysis, pages 15-18 Figure S2. Hierarchical and k-means clustering yield similar cluster architectures, page 19 Figure S3. Expanded k-means clustergram, pages 20-23 Figure S4. Behavioral fingerprints are stable across a range of doses, page 24 Figure S5. Compounds that share biological targets have highly correlated behavioral fingerprints, page 25 Figure S6. Examples of compounds that share biological targets and/or structural similarity that give similar behavioral profiles, page 26 Figure S7.
    [Show full text]
  • Annual Report 2013
    Annual Report 2013 “ Being active and having a positive outlook on life is what keeps me going every day.” Overview of 2013 “ Our performance in 2013 was defined by remarkable &R D output and further delivery of sustained financial performance for our shareholders.” Please go to page 4 for more More at gsk.com Performance highlights £26.5bn £8.0bn £7.0bn £5.2bn Group turnover Core* operating profit Total operating profit Returned to shareholders 6 112.2p 112.5p 13% Major medicines approved Core* earnings per share Total earnings per share Estimated return on R&D investment 10 6 1st 1st Potential phase III study starts in 2014/15 Potential medicines with phase III data in Access to Medicines Index Pharmaceutical company to sign AllTrials expected 2014/15 campaign for research transparency Front cover story Betty, aged 65, (pictured) has Chronic “ Health is important to me, Obstructive Pulmonary Disease (COPD). She only has 25% lung capacity. This means I try to take care of my she finds even everyday tasks difficult, but medicines and inhaled oxygen allow her to health with all the tools live as normal a life as she can. Betty’s mindset I have and do the best is to stay busy and active, so every week she goes to rehab exercise classes. that I can with it.” COPD is a disease of the lungs that leads to Betty, COPD patient, damaged airways, causing them to become North Carolina, USA narrower and making it harder for air to get in and out. 210 million people around the world are estimated to have COPD.
    [Show full text]
  • Gilead and Glaxo's HIV Battle Intensifies
    February 14, 2017 Gilead and Glaxo’s HIV battle intensifies Madeleine Armstrong The first phase II data with Gilead’s HIV integrase inhibitor bictegravir have set up a showdown with Glaxosmithkline/Viiv Healthcare’s marketed product dolutegravir. But Glaxo is already one step ahead with data from a two-drug combo that could reduce the side-effect burden for HIV patients. Glaxo believes that this doublet could “reshape the whole game”, the group's chief executive, Andrew Witty, said on its fourth-quarter earnings call. HIV has been one of the group’s main drivers in recent quarters as it has taken market share from Gilead, which is becoming increasingly reliant on HIV as its hepatitis C franchise slows (see tables below). Bictegravir vs dolutegravir The phase II study, presented today at the Conference on Retroviruses and Opportunistic Infections in Seattle, compared bictegravir plus emtricitabine and tenofovir alafenamide – known as FTC/TAF – with dolutegravir plus FTC/TAF in 98 treatment-naive, HIV-infected adults. Both are the latest iterations of the integrase inhibitor class, and unlike older products with the same mechanism do not require boosting – taking another drug to raise circulating levels – so have a lower risk of adverse events and drug-drug interactions. The phase II trial found similar response rates with a bictegravir-containing regimen versus a dolutegravir- containing therapy, which should boost confidence in Gilead’s compound ahead of phase III readouts expected mid-year. It found a 97% response in the bictegravir arm at 24 and 48 weeks, versus 94% at week 24 and 91% at week 48 in the dolutegravir arm, but the difference was not statistically significant.
    [Show full text]
  • Pharma Pricing, Non-Profit Ties Get Increasing Scrutiny from Prosecutors
    REGULATORY UPDATE REGULATORY UPDATE CONSUMER DRUGS Pediatric Rare Disease Voucher Japan Wants EMA To Stay In Digital Marketing: Health Care Brands’ Program Faces Expiration, p. 12 UK Post-Brexit, p. 15 Window Into Consumers’ Lives, p. 20 Pharma intelligence Pinkpink.pharmamedtechbi.comSheetVol. 78 / No. 38 September 19, 2016 informa Mylan NV was subpoenaed for material Pharma Pricing, Non-Profit Ties Get about the pricing of its generic doxycycline and communications with competitors. And Valeant Pharmaceuticals International Inc. is Increasing Scrutiny From Prosecutors facing several probes about its pricing and BRENDA SANDBURG [email protected] patient assistance programs (see chart, p. 5). Mylan’s doxycycline price increases were called out by Sen. Bernie Sanders, I-Vt., and Rep. Elijah Cummings, D-Md., in October 2014 when they sent letters to 14 generic drug makers about the pricing of their prod- ucts. They noted that from October 2013 to April 2014, the average price charged for a 500-count bottle of 100 mg tablets had risen from $20 to $1,829, an 8,281% increase. Mylan is now under fire for repeatedly rais- ing the price of its severe allergy treatment EpiPen (epinephrine), which has increased from about $100 for a two-pack in 2008 to more than $600. Members of Congress sent a flurry of letters to the company requesting an explanation for the price hikes. And on Sept. 6, New York Attorney Gen- Shutterstock: blvdone Shutterstock: eral Eric Schneiderman announced that his office has begun an investigation into rug makers have been unable to programs, contractual agreements with Mylan with regard to EpiPen, saying a pre- shake free of government inves- pharmacy benefit managers, support of liminary review revealed that Mylan may Dtigations of their marketing and non-profit organizations, and calculation have inserted potentially anticompetitive sales practices.
    [Show full text]
  • Annual Review 2005
    GS2184_Review_A\W2.qxd 7/3/06 4:58 pm Page fc1 Annual Review 2005 human being Do more, feel better, live longer GS2184_Review_A\W2.qxd 9/3/06 1:28 pm Page ifc2 01 An interview with Sir Christopher Gent, Chairman, and JP Garnier, Chief Executive Officer 05 Tachi Yamada, Chairman, Research & Development, Pharmaceuticals 06 Jean Stéphenne, President and General Manager, GSK Biologicals 08 John Clarke, President, Consumer Healthcare 11 David Stout, President, Pharmaceutical Operations 14 Performance highlights 15 Business operating review 18 The Board 19 The Corporate Executive Team 20 Summary remuneration report 23 Corporate governance 24 Responsibility statements 25 Summary financial statements 26 Summary information under US GAAP 27 Shareholder information 29 Chairman and CEO’s closing letter JP Garnier (left) and Sir Christopher Gent (right) GS2184_Review_A\W2.qxd 7/3/06 5:01 pm Page 01 “Discovering important medicines, eradicating diseases, improving the quality of people’s lives and making medicines available to a greater number of people. This is what we do – and what we do matters to people.” JP Garnier, Chief Executive Officer An interview with Sir Christopher Gent, Chairman and JP Garnier, Chief Executive Officer 2005: a year of success and progress “Thanks to the efforts of our employees around the company’s pipeline is one of the largest and most world, 2005 was a very successful year for GSK,” says promising in the industry, with 149 projects in clinical JP Garnier, Chief Executive Officer. “Not only was it development (as at the end of February 2006), our best year ever from a financial standpoint, we also including 95 new chemical entities (NCEs), 29 product made substantial progress with our pipeline of line extensions (PLEs) and 25 vaccines.
    [Show full text]
  • Other Statutory Disclosures Continued
    Other statutory disclosures continued Strategic reportGroup companies Governance & remuneration Financial statements In accordance with Section 409 of the Companies Act 2006 a full list of subsidiaries, associates, joint ventures and joint arrangements, the country of incorporation and effective percentage of equity owned, as at 31 December 2015 are disclosed below. Unless otherwise stated the share capital disclosed comprises ordinary shares which are indirectly held by GlaxoSmithKline plc. All subsidiary companies are resident for tax purposes in their country of incorporation unless otherwise stated. Country of Effective % % Held by Name incorporation Ownership Security Class of Share Wholly owned subsidiaries 1506369 Alberta ULC Canada 100 Common 100 Action Potential Venture Capital Limited England & Wales 100 Ordinary 100 Adechsa GmbH Switzerland 100 Ordinary 100 Affymax Research Institute United States 100 Common 100 Alenfarma – Especialidades Farmaceuticas, Limitada (iv) Portugal 100 Ordinary Quota 100 Allen & Hanburys Limited (iv) England & Wales 100 Ordinary 100 Allen & Hanburys Pharmaceutical Nigeria Limited Nigeria 100 Ordinary 100 Allen Farmaceutica, S.A. Spain 100 Ordinary 100 Allen Pharmazeutika Gesellschaft m.b.H. Austria 100 Ordinary 100 Aners S.A (iv) Argentina 100 Non-endorsable Nominative Ordinary 100 Barrier Therapeutics, Inc. United States 100 Common 100 Beecham Group p l c England & Wales 100 20p Shares 'A'; 5p Shares B 100 Beecham Pharmaceuticals (Pte) Limited Singapore 100 Ordinary 100 Beecham Pharmaceuticals S.A (iv) (vi) Ecuador 100 Nominative 100 Beecham Portuguesa-Produtos Farmaceuticos e Quimicos, Lda Portugal 100 Ordinary Quota 100 Beecham S.A. (iv) Belgium 100 Ordinary 100 Biddle Sawyer Limited India 100 Equity 100 Biovesta Ilaçlari Ltd. Sti. Turkey 100 Nominative 100 Burroughs Wellcome & Co (Australia) Pty Limited (iv) (vi) Australia 100 Ordinary 100 Burroughs Wellcome & Co (Bangladesh) Limited Bangladesh 100 Ordinary 100 Burroughs Wellcome International Limited England & Wales 100 Ordinary 100 Caribbean Chemical Company, Ltd.
    [Show full text]