During the last few years the changed growth trajectory of the Indian
economy has also fuelled opportunities in healthcare and grown the
pharmaceuticals sector in particular. Liberalization has opened up the
insurance sector and economic growth has created millions of new jobs
and the trickledown effect is bringing in large swathes of the
population into the fold of modern medicine. Consistent with these
developments your company had embarked on a strategy to widen its
therapeutic presence, connect with new and emerging customer segments
as well as invest for growth.
In the year gone by we have further cemented our initiatives in these
areas. Our base business in mass markets and mass specialties has
continued to deliver double digit growth. Forays into Oncology and
Cardiovascular gained momentum with additional indications for use of
Tykerb, our drug for breast cancer, in combination, and branded generic
launches in the cardiovascular space. We are beginning to establish our
presence in Cardiology and Oncology, two areas where we did not have a
presence three years ago. Vaccines continued to power ahead with your
company having achieved leadership during the course of the year.
Cervarix, the vaccine for Cervical Cancer achieved leadership during
the September quarter. In keeping with the companys philosophy of
providing access and given the significant burden of Cervical Cancer in
India, your company reduced prices of its Cervical Cancer Vaccine
during the last quarter to make it available to as many women as
The already strong presence in the hospital segment has been augmented
through launch of new products resulting in a further strengthening of
the market leadership which your company enjoys in this segment. The
initiative to expand our rural penetration, where your company has the
second largest presence in the country, was augmented through
deployment of additional people.
Your company has also made investments in strengthening customer facing
cadres and has added about 700 people in first line sales in the last
three years - with plans to add further this year. This has been done
without compromising on the industry leading field force productivity
which your company enjoys.
All of this has embedded within it the highest standards of ethics,
transparency, patient focus and contribution to the community which our
company is committed to. These initiatives in time to come, will
further add to the trust which your company enjoys amongst various
stakeholders and will sustain the growth trajectory as a new normal.
In the last few years we have successfully embedded growth into our
This has enabled us to enhance volumes and establish substantial
presence in categories which will experience a continuous growth curve
in the years ahead. We have also invested in continuous capacity
building in order to leverage on the momentum and thus convert market
opportunities into robust performance.
The end result: an improvement in the equity of GSK brands and also in
profitability and earnings.