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Glaxosmithkline history
Glaxosmithkline company history timeline
Glaxo Wellcome and SmithKline Beecham announced their intention to merge on 17 January 2000.
GSK today: 2000 – present
According to a July 2001 Business Week article, Garnier claimed that the partners would be "the kings of science."
By July 2001, it had signed over 100 joint ventures with biotech firms and eyed both cancer and cardiovascular drugs as crucial to its product development strategy.
GSK completed the acquisition of New Jersey-based Block Drug in 2001, for US$1.24 billion.
The merger was completed in December that year, forming GlaxoSmithKline (GSK). The company's global headquarters are at GSK House, Brentford, London, officially opened in 2002, by then-Prime Minister Tony Blair.
The building was erected at a cost of £300 million and as of 2002 was home to 3,000 administrative staff.
As of 2003, SR One tended to invest only if the company aligned with GSK's business.
The firm however, had nearly $6 billion in cash assets--a fact that had many in the industry wondering whether or not GSK would look to yet another deal to bolster its holdings. It secured savings of over $1.08 billion as a result of the merger and anticipated saving $2.59 billion by 2003 in manufacturing costs.
In April, the GSK launched the asthma drug Advair in the United States The drug was expected to secure global sales of $2.4 billion by 2005.
Chris Gent, previously CEO of Vodafone, was appointed chairman of the board in 2005.
In 2006, GSK acquired the US-based consumer healthcare company CNS Inc., whose products included Breathe Right nasal strips and FiberChoice dietary supplements, for US$566 million in cash.
GSK opened its first R&D centre in China in 2007, in Shanghai, initially focused on neurodegenerative diseases.
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Andrew Witty became the chief executive officer in 2008.
In 2010, the company acquired Laboratorios Phoenix, an Argentine pharmaceutical company, for US$253m, and the UK-based sports nutrition company Maxinutrition for £162 million (US$256 million).
In 2011, in a US$660-million deal, Prestige Brands Holdings took over 17 GSK brands with sales of US$210 million, including BC Powder, Beano, Ecotrin, Fiber Choice, Goody's Powder, Sominex and Tagamet.
GlaxoSmithKline to Plead Guilty and Pay $3 Billion to Resolve Fraud Allegations and Failure to Report Safety Data July 2, 2012 United States Department of Justice press release
In 2012, the company announced that it would invest £500 million in manufacturing facilities in Ulverston, northern England, designating it as the site for a previously announced biotech plant.
In 2013, GSK acquired Human Genome Sciences (HGS) for US$3 billion; the companies had collaborated on developing the lupus drug Belimumab (Benlysta), albiglutide for type 2 diabetes, and darapladib for atherosclerosis, and in September, sold its beverage division to Suntory.
In April 2014, Novartis and Glaxo agreed on more than US$20 billion in deals, with Novartis selling its vaccine business to GSK and buying GSK's cancer business.
In February 2015, GSK announced that it would acquire GlycoVaxyn, a Swiss pharmaceutical company, for US$190 million, and in June that year that it would sell two meningitis drugs to Pfizer, Nimenrix and Mencevax for around US$130 million.
2016 GSK paid $6.2 million to settle a Canada class action lawsuit involving 50 mothers and their children.
On 31 March 2017, Emma Walmsley became CEO. She is the first female CEO of the company.
Wong, G. (2017, April 21). $3 million awarded to widow who sued pharmaceutical firm over husband’s suicide.
In December 2017, Reuters reported that Glaxo had increased its stake in its Saudi Arabian unit to 75% (from 49%) taking over control from its Saudi partner Banaja KSA Holding Company.
In October 2019, GSK agreed to sell its rabies vaccine, RabAvert, and its tick-borne encephalitis vaccine, Encepur, to Bavarian Nordic for US$1.06 billion (€955 million).
In July 2020, GSK acquired a 10% stake in German biotech company CureVac.
GSK faced 476 federal Zofran lawsuits in February 2021.
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