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COMPANY OVERVIEW
GlaxoSmithKline (GSK) is one of the world’s leading research-based pharmaceutical and healthcare companies. The company is engaged in the discovery, development, manufacturing and marketing of pharmaceutical and consumer health-related products. The company primarily operates in 120 countries and its products are sold in more than 150 countries. GSK is headquartered in Brentford, the UK and employed 99,913 people as of December 31, 2009. The company recorded revenues of £28,368 million ($44,422.3 million*) during the financial year (FY) ended December 2009, an increase of 16.5% over FY2008.The operating profit of the company was £8,425 million ($13,193 million*) during FY2009, an increase of 18% over FY2008. The net profit was £5,669 million ($8,877.3 million*) in FY2009, an increase of 20.3% over FY2008

BUSINESS DESCRIPTION
GlaxoSmithKline (GSK) is a global healthcare company specialized in the discovery, development, manufacturing and marketing of pharmaceutical and consumer health-related products.The company has operations in over 120 countries, with products being sold in more than 150 countries. Its principal R&D facilities are located in the UK, the US, Japan, Italy, Spain and Belgium. Its products are currently manufactured in about 40 countries. The major markets for the company's products are the US, the UK, France, Germany, Italy and Spain. The company operates through two business segments: pharmaceuticals (prescription pharmaceuticals and vaccines) and consumer healthcare [over-the-counter (OTC) medicines, oral healthcare and nutritional healthcare

HISTORY
GSK traces its origins from two companies namely Glaxo and SmithKline Beecham. Joseph Nathan founded Glaxo in 1873, as a general trading company. It manufactured its first pharmaceutical product, a vitamin D preparation called Ostelin, in 1924. Glaxo went public and was listed on the London Stock Exchange in 1942. Glaxo then entered the US pharmaceutical market in 1978. Major brands launched by Glaxo in the 1980s included Zantac and Zovirax. In 1995, Glaxo acquired Wellcome (founded in 1880 in London, the UK) and the integration of the two companies (Glaxo Wellcome) began in the same year. Glaxo Wellcome later acquired Affymax, a company engaged in the field of combinatorial chemistry and Polfa Poznan, a Polish pharmaceutical company in 1998. John K. Smith opened his first drugstore in 1830 in Philadelphia and formed John K. Smith & Co, later to become Smith, Kline & Company (1875). Meanwhile, Thomas Beecham launched the Beecham's Pills business in 1842 in England. In 1891 Smith, Kline & Company acquired French, Richards & Company, becoming Smith, Kline & French (SKF). In 1943, the Beecham Board formed Beecham Research Laboratories. Beecham Research Laboratories discovered amoxycillin in 1972 and Amoxil was launched. After merging with American BioScience Laboratories in 1985, the company acquired one of its largest competitors, International Clinical Laboratories, in 1988. SKF and the Beecham Group merged to form SmithKline Beecham in 1989. In 1994, SmithKline Beecham acquired Diversified Pharmaceutical Services, a pharmaceutical benefit manager, allowing the company to enter the healthcare solutions market. The acquisition of Sterling Health in the same year made SmithKline Beecham the third largest over-the-counter (OTC) medicines company in the world and number one in Europe and the international markets. Glaxo Wellcome and SmithKline Beecham merged in 2000 to form GlaxoSmithKline (GSK). The new organization's shares began trading in the same year on both the London and New York stock exchanges. Growth continued for the new company in 2001 with the acquisition of Block Drug, the manufacturer of Sensodyne toothpaste and other oral healthcare and consumer products. Further reorganization of the company occurred in 2001, when the company's drug discovery operation, Affymax, was divested. GSK engaged in a number of licensing...
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