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
 possible.
 
 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
 corporate DNA.
 
 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.