History of GlaxoSmithKline Pharmaceuticals Ltd.
1924
- The Comp. was incorporated in India on 13th November under the name of H.J.Foster and Co. Limited as an Agency House for distributing the well-known Baby Food Glaxo of then U.K. Company, Joseph Nathan & Co. two years later, the Comp. became a wholly-owned subsidiary of Joseph Nathan and Co.
1950
- On 1st March, the Comp. changed its name to Glaxo Laboratories [Is] 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 & highly complex fine chemicals plant making vitamin A, steroids & other drugs from basic stages was commissioned in Thane.
1962
- During the year, the Comp. took over the business of Indian branch of Allen and Hanburys Ltd., U.K., as this Comp. was acquired by Glaxo Laboratories Ltd., U.K.
1968
- During the year Glaxo group limited acquired the whole capital of BDH Group limited With effect from 1st July, the Comp. became a Public Ltd. Company & its name was changed to Glaxo Laboratories [Indias] Ltd. - The main objects include the manufacture, distribution, sale and export of medicinal, chemical, biological, immunological, Veterinary and other therapeutic preparations, food for infants & invalids, dietetic foods, cereals & foodstuffs of all descriptions, all classes and kinds of chemicals, cosmetics & diary, farm & garden produce.
- During the year, the Comp. diversified the activities of Aligarh Factory, by introducing the manufacture of other food products viz., Glaxose-D' & Casilan & by installation of packing facilities for milk food & Glaxose-D.
- The Technical Collaboration Agreement with Glaxo Group, the Company took immediate steps to establish a Research & Development unit at Thane.
1970
- During the year the Comp. 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 shares] in Jan. 1983, 18,00,000 shares were offered as right [Except to Glaxo Group limited U.K.s] in 1:2, 2,50,000 shares reserved for business associated of the Comp. & 35,50,000 shares offered to the public. Pref. capital was repaid on 12.4.1983.
1984
- In 1984-85, the Comp. acquired the entire shareholding of Glindia Investments Ltd., Sesame Investments Pvt. limited & Samgir Investments Pvt. Ltd., which thereby became subsidiaries of company.
1986
- During the year, a new Comp. was registered under the name of K G Gluco Biols limited for manufacture of products derived from maize in partnership with the Karnataka State Industrial Investment and Development Corporation limited Also another Comp. under the name of 'Vegepro Food and Feeds Ltd.' was incorporated as a joint venture with Pradeshiya Industrial & Investment Corporation of U P limited for implementaion of 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 paid-up capital of the Company.
- The name of Comp. was changed to Glindia Limited with effect from 11th March.
- During the year family product division introduced two new products viz., Farex-Veg & Farex Egg. The facilities for manufacture and packing of dextrose monohydrate based products at Aligarh were modernised & commissioned during the year.
- Letters of intent were received for manufacture of salbutamol, an antii-asthmatic & labetalol, an anti-hypertensive & their formulations.
1988
- The Comp. launched in the market, `Fortun', a latest generation cephalosprim injectible antibiotic. Production of bulk drug `Ibuprofen' had to be stopped due to reduction in its price by more than 50%.
- The Comp. 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 Comp. was again changed from Glindia Ltd., to `Glaxo India Limited.'
- During the year two new products namely, complan mango & lime sip were manufactured.
1990
- During the year three products launched viz., Vitamilk, Minitmilk and Rozana. In July Comp. made an issue of commercial paper for Rs. 10 crores.
1991
- In January, Comp. again issued commercial paper for Rs.9.8 crores.
1992
- During the year Comp. 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 Comp. sold the trade investment in Vegepro Foods and Feeds limited
- During the year Comp. 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 and II, infant milk food formulae, FAREX RICE and AQUAVEETA an oral rehydration product.
- The Comp. has an R&D Centre which is recognised by Department of Scientific & Industrial Research.
1993
- During the year a formal agreement was signed with H J Heinz company of USA for disposal of family product division.
- In July, the Comp. 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 limited 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 & 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 Comp. 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 Comp. from 40% to 51% of equity share capital.
- During the year, the Comp. made three issues of Commercial Paper, each for Rs. 15 crores & for a 90-day tenure. - The Comp. has recently received from the Credit Rating Information Services of India limited [CRISILs] the highest rating of P1+ for its Commercial Paper programme.
- The Comp. has received an Industrial Licence for substantial expansion for its anti-ulcerant bulk drug Ranitidine to 75 tonnes at Ankleshwar.
- The Comp. has also received a Letter of Intent for manufacture of Beclomethasone Inhalers at Nashik.
1994
- During the year Comp. 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 & a research product of UCB Belgium, was launched during the year under a co-marketing arrangement.
- The Comp. launched two anti-TB products, ZUCOX and RIZAP, with the novel concept of patient-friendly compliance kit.
- BECORIDE & 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 & Global Parenterals, a Bangalore based pharma company.
- Global Parentals has put up a modern manufacturing facility for producing Grampian 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 Comp. to market Ovaprim, a fish spawning agent. Grampian products will complement Glaxo range in these three segments of market. - During the year, oral liquids dpt. was substantially upgraded & the newly designed & re-constructed tablet facilities at Worli started production during the end of year. - The Comp. issued Bonus Shares in the ratio of 1:1 which were allotted on 21st February.
- The Comp. 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 & 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 Trophy 1994 for 'Innovative Health, Safety and Environmental Management Strategies'.
1996
- To improve the position of Comp. in Oncology & Dermatology segments, specialised 'Onco' & 'Dermo' teams were formed. In order to tap the potential of vast growing rural market, a 'Rural Marketing Team' has been set up.
- The Comp. was awarded 'The Marketing Comp. of Year' award by the Institute of Marketing & Management, New Delhi. The Comp. was also adjudged the most respected pharmaceutical Comp. of India by an opinion poll conducted by BW/Marg.
- Chemical factories at Thane & Ankleshwar are being expanded to meet demand for local production & for exports. The Thane Factory was awarded the Glaxo Wellcome plc Chief Executive Trophy for 1995 for 'Elimination of Hazards through Innovative Process Development'.
1997
- During the year chemical factories at Thane & Ankleshwar are being expanded to meet additional demand for local & export market.
- Glaxo India Ltd has won 'The Analyst Award 1996' [category 1-larges], awarded by Institute of Chartered Financial Analysts of India [ICFAIs].
- Glaxo [Indias] has emerged as the largest pharma Comp. 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 & 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 Comp. issued 20,00,000 -14% redeemable secured non-convertible debentures of Rs. 100 each in order to meet normal capital expenditure & 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 specified section.
- Glaxo will be able to launch two products from Takeda, the largest Japanese drug company. One is an anti-cancer product & the other Idebenone, used in the treatment of memory loss & stroke.
- Shares amounting to two per cent of 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 [QFCs] division with UK-based Oxoid limited QFC will market a range of Oxoid culture media & microbiological products. - Qualigens Fine Chemicals [QFCs], 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 & microbiological products.
1999
- Pharma Majors Ranbaxy Laboratories Ltd & Glaxo Ltd announced an agreement for co-marketing of an advanced dosage form of 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 & medical devices.
- Ranbaxy Laboratories & 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 antibiotic, Cephalexin, in the country. - Ranbaxy Laboratories Ltd has signed an agreement with Glaxo for the co-marketing of an advanced dosage form of antibiotic, Cephalexin.
- Glaxo [Indias] entered into an agreement with ICI [Indias] to acquire five veterinary brands with a turnover of about Rs 10 crore.
2000
- Glaxo Group limited holds 30,485,250 No. of equity shares of Rs 10 each of the company. This holding is 51 per cent of total paid-up share capital of company.
- The Comp. has a 40 per cent share of domestic TB market.
- Glaxo India veterinary division Glaxo Agrivet Farm Care [AFCs] has tied up with the $1.8-billion Merial, the world largest animal health company, to market the later poultry vaccines in the country. Merial is a joint venture between American major Merck and Comp. Inc & Rhone Poulenc SA.
- Crisil today reaffirmed the FAAA [highest safetys] rating assigned to a fixed deposit [FDs] programme of Glaxo India & a P1+ [very strong ratings] assigned to its Rs 45-crore commercial paper [CPs] programme.
- The Comp. has launched Hepitec 100 mg for chronic Hepatitis B.
- Glaxo has just introduced Seretide [a combination of salmeterol xinafoate & fluticasone propionate in a single inhaler-the Accuhaler-for treating asthma.
- Glaxo India Ltd., India leading pharmaceutical Comp. has tied up with Goodhealthnyou.com to spread awareness on asthma.
- Glaxo India, the number one pharmaceutical Comp. by market share, has sold its 30 year old brand Anovate to an unlisted company, US Vitamins [USVs]
- The Comp. has launched a 24-hour phone-in helpline to clarify HIV/AIDS-related doubts in the city.
- Glaxo India limited has signed a memorandum of understanding with E-Merck India to sell the rights, title & interest in the registered trademark of Livogen, a liver tonic, as part of its restructuring plan.
- Glaxo India limited has sold its `Livogen' brand to E Merck India Ltd. for a total consideration of Rs 8 crore.
- In Dec. 2000, Glaxo Wellcome plc & SmithKline plc have merged under an agreement. They now form a new Comp. named GlaxoSmithKline plc. The new Comp. 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 equity.
2001
- Glaxo & Allergan India have entered into a marketing alliance for the former eye-care brand, `Catalin'. - The Comp. with SmithKline Beecham Pharmaceuticals [Indias] limited & also to approve the scheme of amalgamation & other related matters.
- Glaxo [Indias] & SithKline Beecham Pharmaceuticals [Indias] have proposed to merge their Indian operations allotting one equity share of GIL for every two shares of SBPI held by shareholders.
- Pharmaceutical major Glaxo India has recieved the Drug Controller General of India nod for its recombinant technology-based Hepatitis-C vaccine,
- The amalgamation of Glaxo India Ltd & SmithKlineBeecham Pharmaceuticals India Ltd received approvals from the Karnataka High Court & Bombay High Court on September 27th.
- The Comp. has launched Celex, a clarithromycin anti-infective formulation under licence from & manufactured by Abbott India, Ventoride for asthma [combination of salbutamol & beclamethasones] and fluticasone cream, a corticosteroid.
- It has adopted the acquisition route, amongst others, to grow. It acquired two groups. The Burroughs Wellcome India limited [BWILs] 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 wide coverage are offset by about 70% of the company products falling under the drug price control order [DPCOs], shackling realisations.
- MAX GB Ltd, a 50:50 joint venture between Max India & Gist Brocades of Netherlands, & 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 joint venture Comp. at one of company manufacturing facility, which will be made available for this purpose.
- The companies - Trident Chemical Works, Meghdoot Pvt Ltd & Biddle Sawyer are currently 100% subsidiaries of 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 BS group, it will be able to launch two products from Takeda, the largest Japanese drug company. One is an anti-cancer product & the other Idebenone, used in the treatment of memory loss and stroke.
- In October 2001, Smithkline Beecham Pharmaceutical [Indias] Ltd was merged with Glaxo India Ltd to become GlaxoSmithKline Pharmaceuticals Ltd.
2002
- In March 2002, the Board of Directors of Comp. approved the Scheme of Arrangement for Demerger of marketing undertaking of Meghdoot Chemicals Ltd [wholly owned subsidiarys] into the Comp. and the simultaneous amalgamation of Croydon Chemical Works Ltd [wholly owned subsidiarys] 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 and Managing Director of Comp. has been appointed as Senior Vice President & Area Director, Asia Pacific wef January 01, 2003.
-Brings down the total number of stockists from 6,000 to 4,500, & 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 & marketing, appointed as country head of French drugmaker Sanofi-Synthelabo Indian arm
-GlaxoSmithKline Pharmaceuticals [GSKs] decides to obtain raw materials like viles, syringes & bottles from its Indian subsidiary
-Rs 252-crore plant for producing Horlicks, GlaxoSmithkline [GSKs] Consumer Healthcare Ltd. 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 [EMRs] on the company anti-diabetic drug Rosiglitazone & its derivative, Rosiglitazone Maleate
-Company enters into a Memorandum of Understanding dated August 12, 2002 pursuant to which the Comp. agrees to sell its entire shareholding [including the shares held by its nomineess] in Meghdoot Chemicals Ltd [MCLs] together with its right, title & interest for manufacturing business of MCL to Maneesh Pharmaceuticals Pvt. Ltd.
-Patents Controller of India rejects GlaxoSmithKline Pharmaceutical [GSKs] application for exclusive marketing rights for Avandia, an anti-diabetic drug for type-2 diabetes, which is owned by firm British parent
-Pulls Ranbaxy, Novartis & others to court for using stolen bacteria from GlaxoSmithKline to make generic versions of 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 & mobile phase filtration
-Offers VRS for workers at Ankleshwar manufacturing unit
-Signs agreement with Glenmark Pharmaceuticals limited for sale of Ankleshwar unit
-Glenmark Pharmaceuticals Ltd [GPLs] purchases GlaxoSmithkline Pharmaceuticals Ltd [GSKs] Active Pharmaceutical Ingredient [APIs] manufacturing facility. The acquisition also includes movable & immovable property, located at Ankleshwar for Rs 14 crore
-Scheme of Arrangement between Croydon Chemical Works Ltd & Meghdoot Chemicals Ltd with the Comp. approved by Bombay High Court
-S Kalyanasundaram appointed as MD of Glaxosmithkline Pharmaceuticals
2003
-Files a special leave petition [SLPs] before the Supreme Court, against Karnataka High Court order which contends that prices of controlled medicines notified by government would apply to all batches of medicines, old & new, with the retail dispenser, irrespective of date they were released to the market
-Focuses on around 30 brands to power growth & 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 & market their products under the brand name Astocalcium or Astocalcium Vet or any mark deceptively similar to Glaxo Ostocalcium or Ostocalcium Vet
-Sues Dr. Reddy Laboratories limited for patent infringement
-Ranbaxy Laboratories Ltd & GlaxoSmithkline plc [GSKs] have entered into a drug discovery & 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 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 Comp. Ltd & Oberoi Constructions.
-Glaxosmithkline has launched a pivotal Phase III study of new cervical cancer vaccine
2008
- GlaxoSmithKline [GSKs] Pharma has entered into a pact with Japan Astellas Pharma Inc for exclusive rights to sell the latter injectable anti-fungal agent Micafungin, branded Mycamine, in the local market.
