DOCSLIB.ORG

GSK Annual Report 2002

Total Page：16

File Type：pdf, Size：1020Kb

Download full-text PDF Read full-text
GSK Annual Report 2002 The Impact of Medicines Do more, feel better, live longer Annual Report 2002 www.gsk.com Mission Our global quest is to improve the quality of human life by enabling people to do more, feel better and live longer. Our Spirit We undertake our quest with the enthusiasm of entrepreneurs, excited by the constant search for innovation. We value performance achieved with integrity. We will attain success as a world class global leader with each and every one of our people contributing with passion and an unmatched sense of urgency. Strategic Intent We want to become the indisputable leader in our industry. GlaxoSmithKline plc is an English public limited company. Its shares are listed on the London Stock Exchange and the New York Stock Exchange. GlaxoSmithKline plc acquired Glaxo Wellcome plc and SmithKline Beecham plc on 27th December 2000 by way of a scheme of arrangement for the merger of the two companies which became effective on 27th December 2000. This report is the Annual Report of GlaxoSmithKline plc for the year ended 31st December 2002. It comprises in a single document the Annual Report of the company in accordance with United Kingdom requirements and the Annual Report on Form 20-F to the Securities and Exchange Commission in the United States of America. A summary report on the year, the Annual Review 2002, intended for the investor not needing the full detail of the Annual Report, is produced as a separate document. The Annual Review includes the joint statement by the Chairman and the Chief Executive Officer, a summary review of operations, summary financial statements and a summary remuneration report. The Annual Review is issued to all shareholders. The Annual Report is issued to shareholders who have elected to receive it. Both documents are available on GlaxoSmithKline’s corporate website – at www.gsk.com. Website GlaxoSmithKline’s website, www.gsk.com gives additional information on the Group. Information made available on the website does not constitute part of this Annual Report. GlaxoSmithKline 01 GlaxoSmithKline plc Annual Report for the year ended 31st December 2002 Contents Report of the Directors 02 Financial summary 03 Joint statement by the Chairman and the Chief Executive Officer 05 Description of business 31 Corporate governance 39 Remuneration report 51 Operating and financial review and prospects 73 Financial statements 74 Directors’ statements of responsibility 75 Independent Auditors’ report 76 Consolidated statement of profit and loss 76 Consolidated statement of total recognised gains and losses 78 Consolidated statement of cash flow 80 Consolidated balance sheet 80 Reconciliation of movements in equity shareholders’ funds 81 Company balance sheet 82 Notes to the financial statements 142 Financial record 151 Investor information 152 Shareholder return 153 Shareholder information 154 Share capital 156 Taxation information for shareholders 157 Cross reference to Form 20-F 158 Glossary of terms The Annual Report was approved by the Board 159 Index of Directors on 10th March 2003 and published on 28th March 2003. Contact details 02 GlaxoSmithKline Financial summary 2001 2002 (restated) Increase Statutory results £m £m £% CER% Sales 21,212 20,489 4 7 Trading profit 5,662 4,697 21 26 Profit before taxation 5,506 4,517 22 28 Earnings/Net income 3,915 3,053 28 35 Basic earnings per share 66.2p 50.3p 32 38 Dividends per share 40.0p 39.0p Merger, restructuring and disposal of subsidiaries Trading profit (1,032) (1,356) Profit before taxation (1,011) (1,652) Earnings/Net income (712) (1,330) Business performance Sales 21,212 20,489 4 7 Trading profit 6,694 6,053 11 15 Profit before taxation 6,517 6,169 6 11 Adjusted earnings/Net income 4,627 4,383 6 11 Adjusted earnings per share 78.3p 72.3p 8 13 Business performance, which is the primary performance measure used by management, is presented after excluding merger items, integration and restructuring costs and the disposal of businesses. Management believes that exclusion of these non-recurring items provides a better comparison of business performance for the periods presented. Statutory results include these non-recurring items. This information is provided as a supplement to that included in the consolidated statement of profit and loss on pages 76 and 77 prepared in accordance with UK GAAP. The Group, as a multinational business, operates in many countries and earns revenues and incurs costs in many currencies. The results of the Group, as reported in sterling, are therefore affected by movements in exchange rates between sterling and overseas currencies. The Group uses the average exchange rates prevailing during the year to translate the results of overseas companies into sterling. The currencies which most influence these translations are the US dollar, the Euro and the Japanese Yen. During 2002 average sterling exchange rates were stronger against the US dollar and the Japanese Yen by four per cent and seven per cent, respectively, and weaker against the Euro by one per cent, compared with 2001. In order to illustrate underlying performance, it is the Group’s practice to discuss its results in terms of constant exchange rate (CER) growth. This represents growth calculated as if the exchange rates used to determine the results of overseas companies in sterling had remained unchanged from those used in the previous year. The discussion in this report is therefore in terms of CER unless otherwise stated. £% represents growth at actual exchange rates. CER% represents growth at constant exchange rates. During 2002 FRS 19 ‘Deferred tax’ has been implemented by the Group. This FRS requires deferred tax to be accounted for on a full provision basis, rather than a partial provision basis as in 2001 and earlier years. This change has been accounted for as a prior year adjustment and comparative information has been restated as necessary. Cautionary statement regarding forward-looking statements The Group's reports filed with 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 64 and 65 of this Annual Report. GlaxoSmithKline 03 Joint statement by the Chairman and the Chief Executive Officer New product growth drives commercial strength The success of our new products is providing the fuel for future growth, with new products now representing 27 per cent of total pharmaceutical sales, up 36 per cent in 2002. Sales of Seretide/Advair for asthma, now our second largest product, continued to grow impressively, up 96 per cent to £1.6 billion. We recently launched Avandamet for type 2 diabetes and Avodart for benign prostatic hyperplasia, as well as important line extensions of Augmentin and Paxil. During 2003-2004 we look forward to launching 12 new compounds and line extensions. These include Levitra, a new treatment for erectile dysfunction, which we are co- promoting with Bayer, and Wellbutrin XL, a new and improved version of our successful anti-depressant. Creating the most productive R&D organisation At the outset of the merger we rethought the way R&D was The purpose of GlaxoSmithKline is to deliver carried out at GlaxoSmithKline, with the aim of creating the most productive R&D organisation in the industry. We established six medicines that have a positive impact on the quality therapeutically focused Centres of Excellence for Drug Discovery of human life. We have chosen this fundamental and (CEDDs). The CEDDs are nimble and entrepreneurial with the range challenging objective as the theme of this year’s of skills and scale of resources required to drive mid-stage Annual Review. development projects through to their key decision point, proof of concept, before large-scale phase III clinical trials. We are pleased to report that 2002 was a year of significant After two years of activity by the new R&D organisation, we are progress in establishing GlaxoSmithKline as one of the world’s seeing significant progress as we advance our promising early stage leading pharmaceutical companies. We achieved strong financial pipeline of pharmaceutical products through clinical development. results in 2002, despite the entry of generic competition in the GlaxoSmithKline has 123 projects in clinical development, of which USA to Augmentin, one of our major products. 61 are new chemical entities in a number of therapy areas, and 23 Our progress stems from the Group’s key strengths: a broadly new vaccines. The number of new chemical entities starting phase based product portfolio, strong financial capability and a promising II clinical trials has more than doubled since the merger. We are early stage pipeline of products.
Load more

Recommended publications
  • 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]
  • 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]
  • Beecham Group PLC and Another V Triomed (Pty) Ltd [2002] 4 All SA 193 (SCA)
    Beecham Group PLC and another v Triomed (Pty) Ltd [2002] 4 All SA 193 (SCA) Division: Supreme Court of Appeal Date: 19 September 2002 Case No: 100/01 Before: Harms, Scott, Mpati, Conradie JJA and Jones AJA Sourced by: PR Cronje Summarised by: D.Harris Parallel Citation: 2003 (3) SA 639 (SCA) . Editor's Summary . Cases Referred to . Judgment . [1] Intellectual property ­ Trade marks ­ Registration of shape as trade mark ­ Where shape is not intended to be used to distinguish owner's products from those of another, it cannot be regarded as a trade mark ­ Application for expungement from trade marks register therefore allowed. Editor's Summary Both parties involved in the present matter were players in the pharmaceutical industry. The Appellants sought the upholding of a trade mark for the shape of a tablet, and a finding that the Respondent had infringed the trade mark. The Respondent imported a tablet with the same composition and shape as that of the Appellants. In the court a quo, the Respondent applied for the expungement from the trade mark register of the shape trade mark. The Appellants launched a counter­application for relief for trade mark infringement. The latter application failed while that of the Respondent succeeded. Held ­ Interested parties may apply to court for the removal of an entry wrongly made or remaining on the trade mark register. The first question posed by the Court was whether the Appellants' shape mark constituted a trade mark in terms of section 10(1) of the Trade Marks Act 194 of 1993 ("the Act").
    [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]
  • Cross Reaction Guide
    Individual Reaction Key Methadone(MTD) Phencyclidine(PCP) Amphetamines(AMP) Tricyclic Antidepressants(TCA) Oxycodone(OXY) Barbiturates(BAR) Methamphetamines(MET) Benzodiazepines(BZO) Tramadol(TML) Opiates(OPI, MOP, MOR) Marijuana(THC) Ecstasy(MDMA) Cotinine(COT) Cocaine(COC) Buprenorphine(BUP) Propoxyphene(PPX) Non-reactive Multiple Reaction Key MET and AMP OPI and OXY MDMA and MET MDMA and AMP MET and TCA Generic Name of Compound Trade Name of Compound Results 6-Acetylmorphine N/A Positive: Opiates(OPI, MOP, MOR) Aceta, Acephen, Apacet, Dapacen, Feverall, Acetaminophen (aka Paracetamol) Tylenol, Excedrin (combination), Panadol, Non-reactive Tempra Acetaminophen with Codeine (aka Positive: Opiates(OPI, MOP, MOR) Tylenol 3, Tylenol with Codeine Paracetamol with Codeine) Potential reactants: Dihydrocodeine Acetophenetidin Phenacetin Non-reactive Aspirin, Anadin, Anasin, Bufferin, Caprin, Acetylsalicyclic Acid Disprin, Ecotrin, Empirin, Excedrin Non-reactive (combination) Allobarbital N/A Positive: Barbiturates(BAR) Alphenol N/A Positive: Barbiturates(BAR) Positive: Benzodiazepines(BZO) Potential Alprazolam Xanax reactants: Oxaprozin (Daypro), Sertraline Aluminum Chloride Hexahydrate Drichlor, Anhydrol Forte Non-reactive Alu-Cap, Alisone, Gastrocote, Kolanticon, Aluminum Hydroxide Non-reactive Maalox TC, Mucogel, Pyrogastrone, Topal Alverine Citrate Spasmonal, Spasmonal Fibre Non-reactive Amantadine Symmetrel Positive: Amphetamines(AMP) SpearesMedical.comAminopyrine N/A Non-reactive Elavil, Lentizol, Tryptizol, Triptafen, Triptafen- Amitriptyline
    [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]
  • Solpadeine Max Tabs 03
    File title: 9034_SOMT01240812v1_Solpadeine Max tabs 20s-30s PIL v3F • If you take a painkiller for headaches for more than 3 days it can make Item No.: 11000000010649 PROSP SOLPADEINA MAX TABLETAS UK 1212 them worse. Last edit: 22nd November 2013 Do not take Solpadeine Max Tablets: Brand: Solpadeine Tablets Variant: MAX Tablets • If you have ever had an allergic reaction to paracetamol, codeine, other opioid painkillers or to any of the other ingredients (listed in Section 6) Component: Leaflet • If you are taking other medicines containing paracetamol or codeine • For pain relief in children and adolescents (0-18 years of age) after removal • This medicine is for the short term treatment of acute moderate pain Market/s: UK of their tonsils or adenoids due to obstructive sleep apnoea syndrome when other painkillers have not worked. • If you know that you metabolise very rapidly codeine into morphine • You should only take this product for a maximum of 3 days at a time. If Dimensions: 150 x 100mm (Drw No. L613D005) • If you are breastfeeding. you need to take it for longer than 3 days you should see your doctor or pharmacist for advice. Printer: Santiago Gonzalez • This medicine contains codeine which can cause addiction if you take it Ask your doctor before you take this medicine: continuously for more than 3 days. This can give you withdrawal Substrate: Paper symptoms from the medicine when you stop taking it. • If you have liver or kidney disease, including alcoholic liver disease Tablets EAN Code: N/A • If you take this medicine for headaches for more than 3 days it can make • If you have bowel problems including blockage of your bowel them worse.
    [Show full text]
  • With Nicotine Replacement Therapies in Smoking Cessation Vol
    Health Technology Assessment Health Technology Health Technology Assessment 2008; Vol. 12: No. 2 2008; 12: No. 2 Vol. ‘Cut down to quit’ with nicotine replacement therapies in smoking cessation ‘Cut down to quit’ with nicotine replacement therapies in smoking cessation: a systematic review of effectiveness and economic analysis D Wang, M Connock, P Barton, A Fry-Smith, P Aveyard and D Moore Feedback The HTA Programme and the authors would like to know your views about this report. The Correspondence Page on the HTA website (http://www.hta.ac.uk) is a convenient way to publish your comments. If you prefer, you can send your comments to the address below, telling us whether you would like us to transfer them to the website. We look forward to hearing from you. February 2008 The National Coordinating Centre for Health Technology Assessment, Mailpoint 728, Boldrewood, Health Technology Assessment University of Southampton, NHS R&D HTA Programme Southampton, SO16 7PX, UK. HTA Fax: +44 (0) 23 8059 5639 Email: [email protected] www.hta.ac.uk http://www.hta.ac.uk ISSN 1366-5278 HTA How to obtain copies of this and other HTA Programme reports. An electronic version of this publication, in Adobe Acrobat format, is available for downloading free of charge for personal use from the HTA website (http://www.hta.ac.uk). A fully searchable CD-ROM is also available (see below). Printed copies of HTA monographs cost £20 each (post and packing free in the UK) to both public and private sector purchasers from our Despatch Agents. Non-UK purchasers will have to pay a small fee for post and packing.
    [Show full text]
  • PDF (Irish Pharmacist January 2020)
    EXCLUSIVE COVERAGE FROM THE RECENT IRISH MEDICATION SAFETY NETWORK ANNUAL CONFERENCE ABOUT-TURN WE LOOK AT WHAT MIGHT BE NEXT FOR PHARMACISTS FOLLOWING THE REVERSAL IN PROPOSED FEE CUTS DUMB AND DUMBER? ARE PHARMACISTS A LITTLE LACKING IN GREY MATTER WHEN IT COMES TO PRICING, ASKS FINTAN MOORE PLUS CLINICAL CONTENT: ASTHMA ❋ COPD ❋ EYE CARE ❋ SMOKING CESSATION TENDER CARE AT Every Change For topical use only. Cleanse and dry the affected area before applying. A copy of the summary of product characteristics is available upon request. The active ingredient in Caldesene Medicated Powder is Calcium Undecylenate 10% w/w, 20g, 55g, 100g pack size. For supply through general sale. PA 126/152/1 PA Holder: Clonmel Healthcare Ltd., Waterford Road, Clonmel, Co. Tipperary. Date Prepared: October 2019. 2019/ADV/CAL/150H NEW TREATS HEARTBURN AND ACID REFLUX. ONE TABLET PER DAY. LASTS 24 HOURS. AVAILABLE IN PACKS OF 7s AND 14s. Marketed by CCF:22656 Date of preparation: (10-19) ABBREVIATED PRESCRIBING INFORMATION Product Name: Emazole Control 20 mg Gastro-Resistant Tablets Composition: Each tablet contains 20 mg esomeprazole (as magnesium dihydrate). Description: Light pink oval film coated tablet. Indication(s): Proton Pump Inhibitor (PPI): Short-term treatment of reflux symptoms (e.g. heartburn and acid regurgitation) in adults. Dosage: Swallow tablets whole with liquid, do not chew or crush. Disperse in half a glass of non-carbonated water if difficulty in swallowing. Stir until tablets disintegrate, drink liquid with pellets immediately or within 15 min, or administer through a gastric tube. Do not chew or crush pellets. Adults: The recommended dose is 20 mg esomeprazole (one tablet) per day.
    [Show full text]
  • Explaining Corporate Success Abstract
    Explaining corporate success: Britain’s best performing firms, 1949-1985 D.M. Higgins, S. Toms The York Management School Abstract The paper synthesises theories of competitive advantage in a dynamic framework to explain the determinants of corporate success. A model is presented linking the firm’s resource audit and dynamic capabilities with the rate of market growth. For the purposes of testing the model, an examination of the performance of all British quoted companies during the period is conducted with reference to achieved long run average rates of return on capital employed. The best performing firms are analysed in more detail and their strategies mapped according to the model criteria. Conclusions are then drawn on the possible strategies for achieving long run corporate success in terms of above average financial returns. Correspondence Steven Toms Joint Editor: Business History Professor of Accounting and Finance and Head of School The York Management School Sally Baldwin Buildings University of York York YO10 5DD Tel: (44) 1904-434122 Fax: (44) 1904-433 431 Email: [email protected] http://www.york.ac.uk/management/staff/StaffProfiles/SToms.htm 1 Explaining corporate success: Britain’s best performing firms, 1949-1985 1. Introduction Competitive advantage and more specifically sustained competitive advantage and its determinants, has become an important research topic in the business and management and industrial organisation literatures. Sustained competitive advantage (SCA) implies not just achieving superior returns, but achieving them over a protracted period of time. It is therefore surprising that the overwhelming majority of this literature has not explored the notion of sustained competitive advantage from a historical perspective.
    [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]
  • Paul M Mahan Matthews
    17 April 2015 PAUL McMAHAN MATTHEWS [email protected] PRIMARY APPOINTMENTS July, 2014- Edmond and Lily Safra Professor of Translational Neuroscience and Therapeutics, Division of Brain Sciences, Department of Medicine, Imperial College London Secured endowment for, and first holder of, new Chair associated with the Divisional Head and posts (Edmond and Lily Safra Scholars) accompanying its foundation. April, 2012- Professor and Head, Division of Brain Sciences, Department of Medicine, Imperial College London Leading a new integration of over 70 academics all clinical and basic neurosciences, neuropsychopharmacology, neurology and mental health within a Division of 200 staff in the Faculty of Medicine with senior management responsibilities across the three academic hospital sites of Imperial College, London. Additional responsibilities as Deputy Director (2008- ) of the Wellcome Trust- GSK Translational Medicine Training Programme, Deputy Director (2011- ) of the BRC Institute for Translational Medicine and Therapeutics, Biomedical Research Centre (BRC) Theme Lead for Neuroscience, co-Director of the Neurotechnology Network and the EPSRC Centre for Doctoral Training in Neurology and Research Advisory Board for the Data Science Institute. July, 2012- February 2014 Vice-President for Integrative Medicines Development, Neurosciences and Medicine Development Lead, GlaxoSmithKline (joint appointment with Imperial College) Leading late phase development programme. Senior advisor to the Head of Neurosciences and China R and D with specific
    [Show full text]