...avoid actions that reduce the ability of the interested parties, including the future generations to meet their needs. In order to elaborate, how a leading global organization takes Sustainable Supply Chain Management as a strategic goal, we have prepared our report on GSK’s Sustainability elements. GSK is one of the world’s leading research-based pharmaceutical and healthcare companies, developing and supplying medicines to a huge global market. The company employs more than 97,000 people in over 100 countries and has an extensive worldwide supply chain. GSK’s mission is to help people do more, feel better, live longer. They do this through investing in R&D, adopting flexible approaches to pricing, promoting open innovation, and strengthening healthcare systems. By growing their business and extending access to their medicines, GSK ensures long term commercial success as well as creating value for its shareholders and delivering economic benefits to the wider society. GSK contributes directly and indirectly to the economic growth in more than 150 countries through tax, charitable support and employment of 101,255 people around the world. This report reflects the actions taken up by GSK for achieving sustainability in their supply chain operations. GSK’S top 10 sustainability successes have also been highlighted in this report as to how they achieved the Carbon Trust Certification, reduced Carbon footprint,...
Words: 4386 - Pages: 18
...Mergers and Acquisitions Tasha Powers Dr. Michael Laverty Business 508 – Contemporary Business November 17, 2014 A merger or acquisition is a combination of two companies where one corporation is completely absorbed by another corporation. The less essential company loses its identity and becomes part of the more imperative corporation, which retains its identity. A merger extinguishes the merged corporation, and the surviving corporation assumes all the rights, privileges, and liabilities of the merged corporation (Gomes, 2011). A merger is not the same as a consolidation, in which two corporations lose their separate identities and unite to form a completely new corporation. Federal and state laws regulate mergers and acquisitions. Regulation is based on the concern that mergers inevitably eliminate competition between the merging firms (Helms, 1996). This concern is most delicate where the participants are direct rivals, because courts often presume that such arrangements are more prone to restrict output and to increase prices. The fear that mergers and acquisitions reduce competition has meant that the government carefully scrutinizes proposed mergers. On the other hand, since the 1980s, the federal government has become less aggressive in seeking the prevention of mergers (Gomes, 2011). Mergers appear in three forms, based on the competitive relationships between the merging parties. In a horizontal...
Words: 1084 - Pages: 5
...Business Research Ethics RES/351 Business Research Ethics The article for my assessment in this weeks assignment is an article from the Internet titled “Pharmaceutical Company Forced to Pay $3 Billion Over Faking Research, Bribing Doctors”, written by “Michael Belk in” a columnist for “Health Impact News Daily”. The article explains that on July 2, 2012, Global health care giant GlaxoSmithKline LLC (GSK) agreed to plead guilty and to pay $3 billion to resolve its criminal and civil liability arising from the company’s unlawful promotion of certain prescription drugs, its failure to report certain safety data, and its civil liability for alleged false price reporting practices. GSK agreed to a three-count criminal information, including two counts of introducing misbranded drugs, Paxil and Wellbutrin, into interstate commerce and one count of failing to report safety data about the drug Avandia to the Food and Drug Administration (FDA). Under the terms of the plea agreement, GSK will pay a total of $1 billion, including $956,814,400 and forfeiture in the amount of $43,185,600. The criminal plea also includes certain non-monetary compliance commitments and certifications by GSK’s president and board of directors. The plea and sentence is not final until the U.S. District Court accepts it. GSK will also pay $2 billion to resolve its civil liabilities with the federal government under the False Claims Act, as well as the states. This resolves claims relating to Paxil, Wellbutrin...
Words: 871 - Pages: 4
...Fraud Allegations and Failure to Report Safety Data, 2012), in 2012 pharmaceutical giant GlaxoSmithKline, LLC (GSK) plead guilty to fraud allegations and failure to report safety data, and agreed to pay $3 billion to settle civil and criminal liabilities. GSK was heavily promoting well known drugs for uses other than what they were intended, and approved for by the FDA. These promotions for non-intended uses were being made through back channels, such as directly to physicians through sales representatives, speakers at sponsored events, as well as advertising in medical journals. GSK had been circumventing the approval process to increase sales of drugs such as Paxil, and Wellbutrin, both anti-depressants. The company had neglected to provide information to the FDA regarding specific findings in research done after the drugs had gone to market. In one medical journal, GSK had published a misleading article that was contrary to actual findings. The misleading claims of GSK to healthcare providers regarding the effectiveness of specific drugs have had far reaching affects, of which cannot be immediately determined. Several of the medications are well known and branded for anti-depressants, and diabetes. According to the US Department of Justice release, GSK had made unsubstantiated claims that the diabetes medication had a "positive cholesterol profile". In fact GSK had no documentation to support the claim. It also was branding the anti-depressants for off-label uses that were...
Words: 1160 - Pages: 5
...doctor bribe convicted Pharmaceutical Company Forced to Pay $3 Billion Over Faking Research, Bribing Doctors by Michael Belkin The Refusers GlaxoSmithKline is a top 3 global vaccine manufacturer. This settlement does not involve vaccines, but this is the same Glaxo that was fined $88,000 ‘for the killing of 14 babies during illegal lab vaccine trials conducted between 2007 and 2008.’ according to the Buenos Aires Herald. The Lancet medical journal commented that this Argentine dead baby vaccine scandal exposes inadequate ‘ethical and procedural standards of trials done in developing regions of the world.’ Duh. This settlement shows Glaxo follows similar unethical business practices in the developed world with its primary pharmaceutical products. An Australian professor wrote a revealing article about how Glaxo manipulates research evidence in medical journals. He gained this insight through internal company documents he had access to during a lawsuit. Bottom line? If you think corrupt and dishonest drug companies are being honest about vaccine safety, efficacy and adverse reactions, you have been deceived by their marketing and PR departments. Glaxo is pleading guilty and paying a criminal fine of $1 billion for misreporting efficacy data and failing to report adverse safety data from post marketing studies. ****************************************************************************************** Department of Justice Office of Public Affairs FOR IMMEDIATE...
Words: 3233 - Pages: 13
...MGMT 338 5 April 2015 Minicase #1 Which of the following companies or brands are owned by companies headquartered outside of the United States? Who are the owners and which country(ies) are the owners based in? 1. 7-Eleven Stores: Owned by Seven-Eleven Japan Co. LTD in Tokyo, Japan "7-Eleven Profile." 7-Eleven Corporate. N.p., n.d. Web. 05 Apr. 2015. <http://corp.7-eleven.com/corp/7-eleven-profile>. 2. Chesebrough-Pond (Vaseline): Owned by Unilever which is based out of London, UK "Investor Center." Stay in Touch with Our Share Price. N.p., n.d. Web. 05 Apr. 2015. <http://www.unileverusa.com/investorcentre/>. 3. Maybelline cosmetics: Owned by Loreal which is based out of Clichy Cedex, France "Contact Us." Loreal. N.p., n.d. Web. 5 Apr. 2015. <http%3A%2F%2Fwww.loreal.com%2Fcontact-us%2Fcontact-us-homepage.aspx>. 4. Diesel clothing: Owned by OTB (Only The Brave) based out of Breganze, Vicenza, Italy "OTB." BoF - Business of Fashion. N.p., n.d. Web. 5 Apr. 2015. <http://www.businessoffashion.com/community/companies/otb>. 5. Aquafresh toothpaste: Owned by GlaxoSmithKline Consumer Healthcare L.P (GSK): Brentford, UK "GSK." GSK - Home. N.p., n.d. Web. 05 Apr. 2015. <http://www.gsk.com/>. 6. Baby Ruth candy bar: Owned by Nestle which is based out of Vevey, Switzerland "Nestle Worldwide." Nestle. N.p., n.d. Web. 05 Apr. 2015. <http://www.nestle.com/aboutus/globalpresence>. 7. Holiday Inn: Owned by InterContinental Hotels Group IHG based...
Words: 739 - Pages: 3
...by GlaxoSmithKline (GSK) and how the results were skewed and then reported by many medical journals as fact, even though the research did not support what was reported. The study was GSK 329, which showed a particular drug to be effective in adolescents with depression, even though the testing showed otherwise. (Jureidini & McHenry, 2011) The biggest unethical behavior that was demonstrated by GSK, and medical journals was the skewing of results of a study. Medical journals published articles that misrepresented the findings of GSK’s research. Internal reports by the company showed that their trials of the drug had failed to benefit adolescents with depression, and positively showed that there were negative results. (Jureidini & McHenry, 2011) The internal report states that “it would be commercially unacceptable to include a statement that efficacy had not been demonstrated, as this would undermine the profile of paroxetine,” and that “to effectively manage the dissemination of data in order to minimize any potential negative commercial impact.” (Jureidini &McHenry, 2011) This indicates that they skewed the results of the study so that only selective data would be published. The authors also place blame on the medical journals that published the results as well, saying that they too are responsible for accurately presenting the results of the company’s research. There were many injured parties in the case of GSK. To start the company was a huge injured...
Words: 854 - Pages: 4
...drink – owned by global giant GlaxoSmithKline – they triggered a sequence of events which led to prosecution, public opprobrium and international damage to an iconic brand. The purpose of this paper is to explore the case and identify lessons for future management practice. Design/methodology/approach – Some of the fundamental principles of issue management, post-crisis discourse and corporate apologia are to recognize the problem early, to promptly institute a strategic response plan and corrective action and, if necessary, to apologise genuinely and without delay. The paper assesses the case against the theoretical basis of each of these principles and comparable cases. A senior executive of the company concerned was interviewed about some management aspects. Findings – Despite early indications of a problem which had potential impact around the world, a major global corporation responded inadequately to a local situation and, as a result, suffered prolonged embarrassment at the hands of two teenagers and unnecessarily severe damage to its brand and international reputation. Originality/value – By in-depth analysis of a recent case, the paper underlines valuable lessons in terms of prompt management intervention, consistent strategy and effective apologia. It also illustrates the danger of poor management of a brand extension and the risk of contagion facing multinational organizations...
Words: 2893 - Pages: 12
...EAST WEST UNIVERSITY Employee Turnover and organization Productivity in the context of Pharmaceuticals industry Organization Behavior (MGT 251) 7/20/2014 The document is on Employee turnover and organizational productivity of Square Pharmaceuticals, discussing various condition of employee turnover rate and the effect of that on the productivity level. An Assignment on Employee turnover and organizational productivity in the context of pharmaceutical industry. Course Code: MGT-251 Course Title: Organizational Behavior Section: 3 Submitted by Glen Archan Karmakar 2012-2-10-061 Asif Zubair 2012-2-10-066 Sazzad Ahmed 2011-3-10-048 Clinton Peter Gomes 2012-2-10-062 Abdul Momen Noman 2012-1-10-112 Sabbir Newaz 2010-1-10-267 Submitted to Rumana Afroz (RUA) Senior Lecturer Department of Business Administration Date of submission July 20, 2014 Rumana Afroz (RUA) Senior Lecturer Department of Business Administration Subject: Submission of the Report on “Employee turnover and organizational productivityin the context of pharmaceutical industry”. Dear Madam, Here is the report on the observational study of employee turnover in the context of pharmaceutical industry that you asked us to conduct in July, 2014. While preparing the term paper, we have tried our best to privide all the necessary information that will give a vivid scenario of our work on the topic mentioned above. We have gathered all...
Words: 5071 - Pages: 21
...advertising claims of Ribena blackcurrant drink – owned by global giant GlaxoSmithKline – they triggered a sequence of events which led to prosecution, public opprobrium and international damage to an iconic brand. The purpose of this paper is to explore the case and identify lessons for future management practice. Design/methodology/approach – Some of the fundamental principles of issue management, post-crisis discourse and corporate apologia are to recognize the problem early, to promptly institute a strategic response plan and corrective action and, if necessary, to apologise genuinely and without delay. The paper assesses the case against the theoretical basis of each of these principles and comparable cases. A senior executive of the company concerned was interviewed about some management aspects. Findings – Despite early indications of a problem which had potential impact around the world, a major global corporation responded inadequately to a local situation and, as a result, suffered prolonged embarrassment at the hands of two teenagers and unnecessarily severe damage to its brand and international reputation. Originality/value – By in-depth analysis of a recent case, the paper underlines valuable lessons in terms of prompt management intervention, consistent strategy and effective apologia. It also illustrates the danger of poor management of a brand extension and the risk of contagion facing multinational organizations where adverse outcomes in one small regional market...
Words: 6368 - Pages: 26
...which the study was conducted are as follows, To understand: 1. The functioning of Recruitment and Selection. 2. To have exposure to recruitment process 3. Whether the recruitment process and selection process are satisfactory or not. The major findings about the recruitment and selection procedures are as follows, * The overall satisfaction level is high. * Job profile communication, evaluation of experience is the factors where Glaxosmithkline is scoring well. * The recruitment is mainly done through print media. * The selection procedures are having three phases. * The executives want the procedure to be future oriented. Following were the suggestions given for the improvement in the procedures. * The process should be made future oriented this can be done by keeping skills, attitude and knowledge in consideration instead of just emphasizing on qualification and experience. * The levels for selection procedures should be minimized for lower level staff selection. * The individual departmental needs should be communicated within the company during general meetings, also the job...
Words: 14022 - Pages: 57
...Piyush Jain Saurabh Jain (D004) (D020) (D026) (D029) (D030) Table of Contents Company Overview....................................................................................................................... 1 HIV / AIDS in Africa ................................................................................................................... 1 Core interest of GSK in Africa .................................................................................................... 1 Criticism of GSK ......................................................................................................................... 1 Access to Medicine (ATM) Outlook ............................................................................................ 2 Governance .................................................................................................................................... 2 Management Structures....................................................................................................... 3 Performance Management & Incentives ............................................................................. 3 Stakeholder Engagement..................................................................................................... 4 Innovation in General Access to Medicine Management .......................................................... 4 Pricing Policies adopted by GSK ...................................................................................
Words: 3334 - Pages: 14
...APPENDIX A - PORTERS 5 FORCES Barriers to Entry • Entering of the potential industrialists is easy, if they have the necessary finances, because the cost of obtaining the permit and start operations is very high. However, there is stiff competition among the companies, especially with the pharmaceuticals, which have not only expanded their scope of operations and distribution through mergers and acquisitions, but also have the necessary know how and long experience to combat any new entrant. • The lengthy and cumbersome registration process, spanning up to two years or more, whereby the new companies have to provide the Certificates of Free Sale, (which confirms the approval for the sale of products in US, Europe, Japan etc) ensure the sale of product in the parent company (incase of MNC) and live up to other irrational clauses in the registration form, inhibit the companies from entering. • The pharmaceutical industry is a very capital intensive industry. This requires large amount of investment, and since, we lag behind in the capital industry, and it has to be imported. Thus, limiting new entrants. • With no stress and emphasis on research and development in our country, it is most likely that the new entrants will produce a new form of the generic type, already being produced in abundance. Thus, the absence of any differential advantage over their competitors will further reduce their chances of survival in the industry. • The risk aversive nature of the industrialists...
Words: 6008 - Pages: 25
...study2Case study: GlaxoSmithKline “In an environment where competitive advantage relies on process efficiency and speed to market, an outsourced model for Corporate Information helps to give this pharmaceutical giant the edge.” Leading pharmaceutical company, GlaxoSmithKline (GSK), is on course to make substantial savings through Williams Lea’s UK-wide output strategy. Williams Lea enables the client to embrace technological change while delivering significant cost savings and process improvements. Headquartered in the UK, GlaxoSmithKline (GSK) is a world-leading research-based pharmaceutical company. Williams Lea has been providing corporate information solutions to GSK’s legacy companies for six years, particularly in the production of submission documents and case report forms (CRFs), both business-critical elements of the drug development process. The challenge GSK’s success is underpinned by the effective time to market of its new medicines. Spiralling research and development costs in the race to bring new drugs to market place primary focus on investing first and foremost in science, minimising business support costs where possible. The solution As GSK’s strategic partner for UK reprographics, Williams Lea rose to this challenge. A 12-month programme of process re-engineering was initiated to significantly improve management of clinical trial documents across the organisation, speeding up the process without compromising document quality and personalisation. With the objective...
Words: 611 - Pages: 3
...GlaxoSmithKline Consumer BSE SENSEX 17,941 Bloomberg Equity Shares (m) 52-Week Range (INR) 1,6,12 Rel. Perf. (%) M.Cap. (INR b) M.Cap. (USD b) S&P CNX 5,405 CMP:INR2,411 TP:INR2,300 Neutral SKB IN 42.1 2,525/1,739 2/26/37 101.5 2.3 Glaxo Smithkline Consumer Healthcare's (SKB) 2QCY11 adjusted PAT grew 15% YoY to INR825m (against our estimate of INR873m). Net sales grew ~22%, led by 16% volume growth. Biscuit volumes grew 49% and exports grew 57%. Input cost pressure drove a 300bp decline in gross margins and 34% higher ad spend led to a 150bp decline in EBITDA margins of 15.1%. SKB increased MFD prices by an average of 2.3% in July to recover some of the lost margins. Foodles grew just 13% (22% in 1HCY11). GSK launched Horlicks Gold at a 30% premium to the base Horlicks variant. New launches yet to make significant impact; Valuations rich for a single category business; Downgrade to Neutral We believe SKB is well placed to capture healthy growth in the MFD space and a strong rebound from 1QCY11 is testament to that. However, with competitive intensity increasing in this segment, SKB will have to continue to spend aggressively, which may reduce the frequency of new product introductions. Margin pressures are likely to persist and though we do not expect a severe gross margin contraction to continue, firm input costs and a changing product mix (rising share of low margin non-MFD) will restrict meaningful margin expansion in future. We are revising...
Words: 2867 - Pages: 12
