GlaxoSmithKline Pharmaceuticals

1924
 
 - The Company was incorporated in India on 13th November under the
 name
 of H.J.Foster & Co. Limited as an Agency House for distributing the
 well-known Baby Food Glaxo of the then U.K.  Company, Joseph Nathan
 &
 Co. two years later, the company became a wholly-owned subsidiary of
 Joseph Nathan & Co.
 
 1950
 
 - On 1st March, the company changed its name to Glaxo Laboratories
 (I)
 Ltd.
 
 1956
 
 - During the year the first major steps towards basic manufacture
 was
 undertaken with the establishment of vaccine manufacturing
 facilities.
 
 1960
 
 - A milk drying plant was opened near Aligarh, U.P.
 
 1961
 
 - During the year a large and highly complex fine chemicals plant
 making vitamin A, steroids and other drugs from basic stages was
 commissioned in Thane.
 
 1962
 
 - During the year, the company took over the business of the Indian
 branch of Allen & Hanburys Ltd., U.K., as this company was acquired
 by
 Glaxo Laboratories Ltd., U.K.
 
 1968
 
 - During the year Glaxo group limited acquired the whole capital of
 BDH
 Group Ltd.  With effect from 1st July, the company became a Public
 Ltd.
 Company and its name was changed to Glaxo Laboratories (India) Ltd.
  
 - The main objects include the manufacture, distribution, sale and
 export of medicinal, chemical, biological, immunological, Veterinary
 and other therapeutic preparations, food for infants and invalids,
 dietetic foods, cereals and foodstuffs of all descriptions, all
 classes
 and kinds of chemicals, cosmetics and diary, farm and garden
 produce.
 
 - During the year, the company diversified the activities of Aligarh
 Factory, by introducing the manufacture of other food products viz.,
 Glaxose-D' and Casilan and by the installation of packing facilities
 for milk food and Glaxose-D.
 
 - The Technical Collaboration Agreement with Glaxo Group, the
 Company
 took immediate steps to establish a Research and Development unit at
 Thane.
 
 1970
 
 - During the year the company acquired Vasant Vijay Mills premises
 adjacent to its premises at Worli.  During the same period, the new R
 &
 D unit was completed at Thane.
 
 1982
 
 - Glaxo Group Ltd., U.K., disinvested 28,00,000 equity shares in the
 Company.
 
 - 56,00,000 No. of Equity shares issued (prem. Rs. 5 per share) in
 Jan.
 1983, 18,00,000 shares were offered as right (Except to Glaxo Group
 Ltd. U.K.) in 1:2, 2,50,000 shares reserved for business associated
 of
 the company and 35,50,000 shares offered to the public. Pref.
 capital
 was repaid on 12.4.1983.
 
 1984
 
 - In 1984-85, the company acquired the entire shareholding of
 Glindia
 Investments Ltd., Sesame Investments Pvt. Ltd. and Samgir
 Investments
 Pvt. Ltd., which thereby became subsidiaries of the company.
 
 1986
 
 - During the year, a new company was registered under the name of K
 G
 Gluco Biols Ltd. for the manufacture of products derived from maize
 in
 partnership with the Karnataka State Industrial Investment and
 Development Corporation Ltd.  Also another company under the name of
 Vegepro Food & Feeds Ltd. was incorporated as a joint venture with
 Pradeshiya Industrial and Investment Corporation of U P Ltd. for
 implementaion of the soyabean project.
 
 1987
 
 - As at 30th June, Glaxo Group Ltd., U.K., which is a wholly owned
 subsidiary of Glaxo Holdings Ltd., held 40% of the paid-up capital
 of
 the Company.
 
 - The name of the company was changed to Glindia Limited with effect
 from 11th March.
 
 - During the year family product division introduced two new
 products
 viz., Farex-Veg and Farex Egg.  The facilities for the manufacture
 and
 packing of dextrose monohydrate based products at Aligarh were
 modernised and commissioned during the year.
 
 - Letters of intent were received for the manufacture of salbutamol,
 an
 antii-asthmatic and labetalol, an anti-hypertensive and their
 formulations.
 
 1988
 
 - The Company launched in the market, `Fortun', a latest generation
 cephalosprim injectible antibiotic.  Production of the bulk drug
 `Ibuprofen' had to be stopped due to reduction in its price by more
 than 50%.
 
 - The company issued 20,00,000 - 14% redeemable secured
 non-convertible
 debentures of Rs. 100 each in order to meet normal capital
 expenditure
 and for working capital requirements.
 
 1989
 
 - With effect from 17th July, the name of the Company was again
 changed
 from Glindia Ltd., to `Glaxo India Limited.'
 
 - During the year two new products namely, complan mango and lime
 sip
 were manufactured.
 
 1990
 
 - During the year three products launched viz., Vitamilk, Minitmilk
 and
 Rozana.  In July company made an issue of commercial paper for Rs.
 10
 crores.
 
 1991
 
 - In January, company again issued commercial paper for Rs.9.8
 crores.
 
 1992
 
 - During the year company received industrial license for expansion
 of
 its anti-ulcerant bulk drug ranitidine to 75 tonnes at Ankleshwar
 and
 for manufacture of beclomethasone inhalers at Nasik.  During the
 same
 year company sold the trade investment in Vegepro Foods & Feeds Ltd.
 
 
 - During the year company made three issues of commercial paper each
 for Rs.15 crores .
 
 - Despite a prolonged strike at Ankleshwar, it was possible to
 maintain
 a limited supply of bulk drugs manufactured at that factory.
 
 - New products launched during the year included MINIT MILK, a dairy
 whitener, GLACTO I & II, infant milk food formulae, FAREX RICE and
 AQUAVEETA an oral rehydration product.
 
 - The Company has an R&D Centre which is recognised by the
 Department
 of Scientific and Industrial Research.
 
 1993
 
 - During the year a formal agreement was signed with H J Heinz
 company
 of USA for the disposal of the family product division.
 
 - In July, the company issued 40,00,000 equity shares of Rs.10 each
 at
 a premium of Rs.55 per share on rights basis in the proportion of
 1:5
 and 897,960 equity shares of Rs.10 each at a premium of Rs.55 per
 share
 were issued to Glaxo Group Ltd. UK on preferential basis in the
 ratio
 1:5.
 
 - Another 2,44,875 equity shares of Rs.10 each at a premium of Rs.55
 per share were offered to the employees and 2,54,865 shares of Rs.10
 each at a premium of Rs.55 per share were offered to Glaxo Group
 Ltd.
 UK were offered to maintain their shareholdings at 51%.
 
 - The Company allotted 44,89,800 new equity shares of Rs. 10 each
 for
 cash at a premium of Rs. 65 per share to Glaxo Group Ltd., U.K. to
 enable them to increase their shareholding in the Company from 40%
 to
 51% of the equity share capital.
 
 - During the year, the Company made three issues of Commercial
 Paper,
 each for Rs. 15 crores and for a 90-day tenure.
  
 - The Company has recently received from the Credit Rating
 Information
 Services of India Ltd.  (CRISIL) the highest rating of P1+ for its
 Commercial Paper programme.
 
 - The Company has received an Industrial Licence for substantial
 expansion for its anti-ulcerant bulk drug Ranitidine to 75 tonnes at
 Ankleshwar.
 
 - The Company has also received a Letter of Intent for manufacture
 of
 Beclomethasone Inhalers at Nashik.
 
 1994
 
 - During the year company sold the family product division to H J
 Heinz
 India Pvt. Ltd., for a total consideration of Rs.180 crores.
 
 - 298,87,500 bonus shares issued to the existing shareholders in
 ratio
 of 1:1.
 
 - CETZINE, a second generation anti-histamine and a research product
 of
 UCB Belgium, was launched during the year under a co-marketing
 arrangement.
 
 - The Company launched two anti-TB products, ZUCOX & RIZAP, with the
 novel concept of a patient-friendly compliance kit.
 
 - BECORIDE and BRCORIDE JUNIOR which are used in the management of
 Asthma were also introduced.
 
 1995
 
 - Glaxo India has entered into a marketing tie-up with Grampian
 Pharmaceuticals, a UK-based veterinary products maker.
        
 - The company, has struck a major deal with the UK-based 160 million
 pound company, Grampian Pharmaceuticals, which will boost Glaxo's
 presence in the veterinary market.  The deal is part of tripartite
 agreement between Glaxo, Grampian and Global Parenterals, a
 Bangalore
 based pharma company.
 
 - Global Parentals has put up a modern manufacturing facility for
 producing Grampian's products.  The Grampian range of veterinary
 products is likely to contribute around 6 to 7 per cent to the total
 AFC business of Glaxo which has a large product range for cattle and
 poultry segments.
 
 - Glaxo entered fisheries market a few years ago through a
 collaboration with a Canadian company to market Ovaprim, a fish
 spawning agent.  Grampian products will complement Glaxo's range in
 these three segments of the market.
          
 - During the year, oral liquids dpt. was substantially upgraded and
 the
 newly designed and re-constructed tablet facilities at Worli started
 production during the end of the year.
   
 - The Company issued Bonus Shares in the ratio of 1:1 which were
 allotted on 21st February.
 
 - The Company has launched special Respiratory, Dermatology and
 Hospital Sales teams to further sharpen its focus in these areas.
 
 - ZUCOX PLUS Tablets, PHEXIN KID Tablets, CETZINE Syrup, CEFTUM 500
 TABLETS, ZOVATE-S, SALBUTAMOL RESPIRATOR SOLUTION and LIVOGEN WITH
 ZINC
 capsules were launched to improve market share in the relevant
 therapeutic segments.
 
 - The Ankleshwar factory was awarded the Glaxo Wellcome plc Chief
 Executive's Trophy 1994 for Innovative Health, Safety and
 Environmental Management Strategies.
 
 1996
 
 - To improve the position of the Company in Oncology and Dermatology
 segments, specialised Onco and Dermo teams were formed.  In order
 to tap the potential of the vast growing rural market, a Rural
 Marketing Team has been set up.
 
 - The Company was awarded The Marketing Company of the Year award by
 the Institute of Marketing and Management, New Delhi. The Company
 was
 also adjudged the most respected pharmaceutical company of India by
 an
 opinion poll conducted by BW/Marg.
 
 - Chemical factories at Thane and Ankleshwar are being expanded to
 meet
 demand for local production and for exports.  The Thane Factory was
 awarded the Glaxo Wellcome plc Chief Executive's Trophy for 1995 for
 Elimination of Hazards through Innovative Process Development.
 
 1997
 
 - During the year chemical factories at Thane and Ankleshwar are
 being
 expanded to meet additional demand for local and export market.
 
 - Glaxo India Ltd has won The Analyst Award 1996 (category 1-large),
 awarded by the Institute of Chartered Financial Analysts of India
 (ICFAI).
 
 - Glaxo (India) has emerged as the largest pharma company in India
 after its merger with Burroughs Wellcome with a combined market
 share
 of 7.2 per cent.  In recent years, Glaxo has restructured its
 operations and ownership structure.
 
 - Glaxo India Ltd is reconsidering its agreement with Jayant
 Vitamins
 Ltd for manufacturing Celin range of Vitamin C bulk drugs.
 
 1998
 
 - During April, the company issued 20,00,000 -14% redeemable secured
 non-convertible debentures of Rs. 100 each in order to meet normal
 capital expenditure and for working capital expenditure.
 
 - The shares of Glaxo, Burroughs Wellcome, Smithkline Pharma and
 SmithKline Consumer zoomed on news of merger moves on the Mumbai and
 National stock exchanges.  The four pharma stocks were among the top
 10
 gainers in BSE's specified section.
 
 - Glaxo will be able to launch two products from Takeda, the largest
 Japanese drug company.  One is an anti-cancer product and the other
 Idebenone, used in the treatment of memory loss and stroke.
 
 - Shares amounting to two per cent of the Rs.59.77-crore equity of
 Glaxo India changed hands on 21.05.98 on the Mumbai Stock Exchange
 and
 the National Stock Exchange.
 
 - Glaxo India has finalised a marketing tie-up through its Qualigens
 Fine Chemicals (QFC) division with UK-based Oxoid Ltd.  QFC will
 market
 a range of Oxoid's culture media and microbiological products.
  
 - Qualigens Fine Chemicals (QFC), a division of Glaxo India, has
 entered into a tie-up with the U.K.-based Oxoid Ltd, for making a
 range
 of culture media and microbiological products.
 
 1999
 
 - Pharma Majors Ranbaxy Laboratories Ltd and Glaxo Ltd announced an
 agreement for co-marketing of an advanced dosage form of the
 antibiotic
 cephalexin.
 
 - Glaxo India Ltd, a 51% subsidiary of Glaxo Wellcome, will now be in
 a
 position to market the whole range of Bristol-Myers products
 consisting
 of medicines, beauty care, nutritional and medical devices.
 
 - Ranbaxy Laboratories and Glaxo are considering the option of
 extending their co-marketing alliance to select overseas markets. 
 In
 March, the two pharma majors had entered into an alliance for
 co-marketing an advanced dosage form of the antibiotic, Cephalexin,
 in
 the country.
      
 - Ranbaxy Laboratories Ltd has signed an agreement with Glaxo for
 the
 co-marketing of an advanced dosage form of the antibiotic,
 Cephalexin.
 
 - Glaxo (India) entered into an agreement with ICI (India) to
 acquire
 five veterinary brands with a turnover of about Rs 10 crore.
 
 2000
 
 - Glaxo Group Ltd. holds 30,485,250 No. of equity shares of Rs 10
 each
 of the company.  This holding is 51 per cent of the total paid-up
 share
 capital of the company.
 
 - The company has a 40 per cent share of the domestic TB market.
 
 - Glaxo India's veterinary division Glaxo Agrivet Farm Care (AFC)
 has
 tied up with the .8-billion Merial, the world's largest animal
 health
 company, to market the later's poultry vaccines in the country. 
 Merial
 is a joint venture between American major Merck & Company Inc and
 Rhone
 Poulenc SA.
 
 - Crisil today reaffirmed the FAAA (highest safety) rating assigned
 to
 a fixed deposit (FD) programme of Glaxo India and a P1+ (very strong
 rating) assigned to its Rs 45-crore commercial paper (CP) programme.
 
 - The company has launched Hepitec 100 mg for chronic Hepatitis B.
 
 - Glaxo has just introduced Seretide (a combination of salmeterol
 xinafoate and fluticasone propionate in a single inhaler-the
 Accuhaler-for treating asthma.
 
 - Glaxo India Ltd., India's leading pharmaceutical company has tied
 up
 with Goodhealthnyou.com to spread awareness on asthma.
 
 - Glaxo India, the number one pharmaceutical company by market
 share,
 has sold its 30 year old brand Anovate to an unlisted company, US
 Vitamins (USV)
 
 - The Company has launched a 24-hour phone-in helpline to clarify
 HIV/AIDS-related doubts in the city.
 
 - Glaxo India Ltd. has signed a memorandum of understanding with
 E-Merck India to sell the rights, title and interest in the
 registered
 trademark of Livogen, a liver tonic, as part of its restructuring
 plan.
 
 - Glaxo India Ltd. has sold its `Livogen' brand to E Merck India
 Ltd.
 for a total consideration of Rs 8 crore.
 
 - In Dec. 2000, Glaxo Wellcome plc and SmithKline plc have merged
 under
 an agreement. They now form a new company named GlaxoSmithKline plc.
 The new company is well-placed to respond to the healthcare
 challenges
 of the twenty first century with market leadership in major
 therapeutic
 categories. With this merger, Glaxo India is now an affiliate of
 GlaxoSmithKline plc, which holds 51% of the equity.
 
 2001
 
 - Glaxo and Allergan India have entered into a marketing alliance
 for
 the former's eye-care brand, `Catalin'.
  
 - The Company with SmithKline Beecham Pharmaceuticals (India) Ltd. &
 also to approve the scheme of amalgamation and other related
 matters.
 
 - Glaxo (India) and SithKline Beecham Pharmaceuticals (India) have
 proposed to merge their Indian operations allotting one equity share
 of
 GIL for every two shares of SBPI held by the shareholders.
 
 - Pharmaceutical major Glaxo India has recieved the Drug Controller
 General of India's nod for its recombinant technology-based
 Hepatitis-C
 vaccine,
 
 - The amalgamation of Glaxo India Ltd and SmithKlineBeecham
 Pharmaceuticals India Ltd received approvals from the Karnataka High
 Court and Bombay High Court on September 27th.
 
 - The company has launched Celex, a clarithromycin anti-infective
 formulation under licence from and manufactured by Abbott India,
 Ventoride for asthma (combination of salbutamol and beclamethasone)
 and
 fluticasone cream, a corticosteroid.
 
 - It has adopted the acquisition route, amongst others, to grow. It
 acquired two groups. The Burroughs Wellcome India Ltd. (BWIL) merger
 came about after the parent was merged with Glaxo Plc. Subsequently,
 it
 acquired the Biddle Sawyer Group , the approval for which was
 received.
 
 - It has a wide product range that covers around 14 therapeutic
 groups.
 However, the benefits of the wide coverage are offset by about 70%
 of
 the company's products falling under the drug price control order
 (DPCO), shackling realisations.
 
 - MAX GB Ltd, a 50:50 joint venture between Max India and Gist
 Brocades
 of Netherlands, and Glaxo India Ltd, have entered into an alliance
 for
 manufacturing cephalexin from the drug intermediate, 7 ADCA. In an
 agreement reached between the two partners, Max GB will supply 7
 ADCA
 to the company, who will convert it into bulk Cephalexin for the
 joint
 venture company at one of the company's manufacturing facility,
 which
 will be made available for this purpose.
 
 - The companies - Trident Chemical Works, Meghdoot Pvt Ltd and
 Biddle
 Sawyer are currently 100% subsidiaries of the company. It has not
 been
 decided whether the companies are to merge between themselves prior
 to
 merger with the company, or be merged individually. By virtue of its
 acquisition of the BS group, it will be able to launch two products
 from Takeda, the largest Japanese drug company. One is an
 anti-cancer
 product and the other Idebenone, used in the treatment of memory
 loss
 and stroke.
 
 - In October 2001, Smithkline Beecham Pharmaceutical (India) Ltd was
 merged with Glaxo India Ltd to become GlaxoSmithKline
 Pharmaceuticals
 Ltd.
 
 2002
 
 - In March 2002, the Board of Directors of the Company approved the
 Scheme of Arrangement for the Demerger of the marketing undertaking
 of
 Meghdoot Chemicals Ltd (wholly owned subsidiary) into the company
 and
 the simultaneous amalgamation of Croydon Chemical Works Ltd (wholly
 owned subsidiary) with the Company.
 
 -Glaxosmithkline Pharmaceuticals Ltd has shut down the business of
 its wholly-owned subsidiary, Biddle Sawyer Ltd., the main reason for
 closure was high manufacturing costs
 
 -R R Bajaaj appointed as Additional Independent Director of
 GlaxoSmithkline Pharma.
 
 -GSK has informed the Bombay Stock Exchange on October 11 that at the
 meeting of its board held on October 10, R R Bajaaj was appointed as
 additional independent director with effect from October 10, 2002.
 
 -GlaxoSmithkline Pharmaceuticals Ltd has informed BSE that
 GlaxoSmithkline plc, has announced that Mr V Thyagrajan Vice-Chairman
 & Managing Director of the company has been appointed as Senior Vice
 President and Area Director, Asia Pacific wef January 01, 2003.
 
 -Brings down the total number of stockists from 6,000 to 4,500, and
 reduces the number of C&F agents from 60 to 31
 
 -Completes VRS programme at its Worli Factory
 
 -Worli Factory ceases operations
 
 -Wins case against govt on alleged overpricing charge
 
 -Shailesh Ayyangar, former executive vice-president, sales and
 marketing, appointed as country head of French drugmaker
 Sanofi-Synthelabo’s Indian arm
 
 -GlaxoSmithKline Pharmaceuticals (GSK) decides to obtain raw
 materials like viles, syringes and bottles from its Indian
 subsidiary
 
 -Rs 252-crore plant for producing Horlicks, GlaxoSmithkline (GSK)
 Consumer Healthcare Ltd.'s flagship product, launched at Sonepat,
 Haryana
 
 -Zyban, the buproprion brand,  acquires more than 50 pc of
 anti-smoking drug segment
 
 -Puts its manufacturing unit at Ankleshwar in Gujarat on the block
 
 -Patent Controller of India rejects the application of
 Glaxo-SmithKline Pharmaceuticals for exclusive marketing rights (EMR)
 on the company's anti-diabetic drug Rosiglitazone and its derivative,
 Rosiglitazone Maleate
 
 -Company enters into a Memorandum of Understanding dated August 12,
 2002 pursuant to which the Company agrees to sell its entire
 shareholding (including the shares held by its nominees) in Meghdoot
 Chemicals Ltd (MCL) together with its right, title and interest for
 the manufacturing business of MCL to Maneesh Pharmaceuticals Pvt.
 Ltd.
 
 -Patents Controller of India rejects GlaxoSmithKline Pharmaceutical's
 (GSK) application for exclusive marketing rights for Avandia, an
 anti-diabetic drug for type-2 diabetes, which is owned by the firm's
 British parent
 
 -Pulls Ranbaxy, Novartis and others to court for using stolen
 bacteria from GlaxoSmithKline to make generic versions of the
 antibiotic, Augmentin
 
 -Pall Pharmalab Filtration, subsidiary of US-based Pall Corporation,
 ties up with Qualigens Fine Chemicals of GlaxoSmithKline to market
 its analytical chemistry products used for sample preparation and
 mobile phase filtration
 
 -Offers VRS for workers at Ankleshwar manufacturing unit
 
 -Signs agreement with Glenmark Pharmaceuticals Ltd. for sale of
 Ankleshwar unit
 
 -Glenmark Pharmaceuticals Ltd (GPL) purchases GlaxoSmithkline
 Pharmaceuticals Ltd's (GSK) Active Pharmaceutical Ingredient (API)
 manufacturing facility. The acquisition also includes movable and
 immovable property, located at Ankleshwar for Rs 14 crore
 
 -Scheme of Arrangement between Croydon Chemical Works Ltd and
 Meghdoot Chemicals Ltd with the Company approved by the Bombay High
 Court
 
 -S Kalyanasundaram appointed as MD of Glaxosmithkline
 Pharmaceuticals
 
 2003
 
 -Files a special leave petition (SLP) before the Supreme Court,
 against Karnataka High Court order which contends that prices of
 controlled medicines notified by the government would apply to all
 batches of medicines, old and new, with the retail dispenser,
 irrespective of the date they were released to the market
 
 -Focuses on around 30 brands to power growth and sidelines low-margin
 products, including those falling under price control
 
 -Sells its office premises located at Cunnigham Road, Bangalore to
 Dawat-E-Hadiyah Trust, Mumbai, for a consideration of Rs 231 million
 
 -Lowers AIDS drug prices in USA
 
 -Allows Novartis to sell generic Augmentin
 
 -Delhi High Court orders KPS Enterprises not to manufacture and
 market their products under the brand name Astocalcium or Astocalcium
 Vet or any mark deceptively similar to Glaxo's Ostocalcium or
 Ostocalcium Vet
 
 -Sues Dr. Reddy's Laboratories Ltd. for patent infringement
 
 -Ranbaxy Laboratories Ltd and GlaxoSmithkline plc (GSK) have entered
 into a drug discovery and clinical development collaboration covering
 a wider range of therapeutic areas.
 
 
 2004
 
 -Dr. Ashoke Banerjee has been appointed as an Executive Director in
 the vacancy caused by the resignation of Mr. N. Ranthi Dev, with
 effect from January 1, 2004.
 
 -GlaxoSmithKline Pharmaceuticals Ltd sells plot in Worli for Rs 107.6
 crore  to I-Ven Realty Ltd, a joint venture between ICICI Venture
 Funds Management Company Ltd and Oberoi Constructions.
 
 -Glaxosmithkline has launched a pivotal Phase III study of a new
 cervical cancer vaccine