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Analysis and interpretations of Glaxo Smithkline Beechem' financial statements - Essay Example
Finance & Accounting
Pages 9 (2259 words)
This paper analyses the financial results of Glaxo Smithkline Plc (GSK) which has the hoary past of more than two centuries as a pioneer in drugs manufacturing starting with laxative pills. It is now the sum total of four giants in the field viz Glaxo, Smithkline, Beecham and Welcome groups…
This research talks about Glaxo Welcome and Smithkline Beechem, the four companies whose histories date back to eighteenth century formally merged in 2000 to become GlaxcoSmithKline Plc (GSK). Thus, GSK was incorporated in December 1999 under English Law and shares were listed on the London Stock Exchange and the New York stock exchange. Eventually in December 2000, GSK acquired Glaxo Welcome Plc and Smithkline Beecham Plc.The synergy coming from their joining together since the year 2000 has been responsible for their growth ever since till today. The company has maintained the turnover at £ 28.4 bn as in last year although earnings per share have sharply declined to 32.1 p from 109.1 p in last year. R & D expenditure was at 14 % of the company’s total sales. There has been 20 % growth in the sale of Horlicks in India, Sensodyne tooth paste has been the fastest growing toothpaste brand during the last five years, 1.4 bn doses of vaccines have been supplied to 179 countries and 24 % of the sales turnover comes from emerging markets excluding USA, Western Europe, Canada, Japan, Australia and New Zealand. Its business model has been “a balanced synergistic business with multiple growth drivers supporting a core pharmaceutical operation”. Vaccines for Malaria at the stage of phase III trials are ongoing in 7 African countries. It has been planned to supply 300 m doses of Synflorix, the vaccination for pneumococcal illness at a reduced price during the next decade to the developing countries in continuation of the supply of the vaccine to Kenya in the past. ...
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