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GlaxoSmithKline Pharmaceuticals Ltd. Company History and Annual Growth Details


- 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.


- On 1st March, the company changed its name to Glaxo Laboratories (I)


- During the year the first major steps towards basic manufacture was
undertaken with the establishment of vaccine manufacturing facilities.


- A milk drying plant was opened near Aligarh, U.P.


- 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.


- 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.


- 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


- 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.


- Glaxo Group Ltd., U.K., disinvested 28,00,000 equity shares in the

- 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.


- 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.


- 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.


- 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


- 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.


- 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.


- During the year three products launched viz., Vitamilk, Minitmilk and
Rozana. In July company made an issue of commercial paper for Rs. 10


- In January, company again issued commercial paper for Rs.9.8 crores.


- 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.


- 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

- 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

- The Company has also received a Letter of Intent for manufacture of
Beclomethasone Inhalers at Nashik.


- 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

- 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.


- 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.

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'.


- 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'.


- 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

- 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.


- 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.


- Pharma Majors Ranbaxy Laboratories Ltd and Glaxo Ltd announced an
agreement for co-marketing of an advanced dosage form of the antibiotic

- 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.


- 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 $1.8-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.


- 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

- 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


- 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-Synthelabos 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


-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.


-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

-Augmentin becomes the No. 1 pharmaceutical brand, as rated by IMS
-Launches Priorix (measles, mumps, rubella vaccine)
-Receives prestigious Multi Cultural Diversity Award from GlaxoSmithKline Consumer Healthcare Limited, U.S. for the Famili Vaccines programme, selected from 83 entries received from markets world-wide


-Glenmark signs marketing agreement with US firm

-Foundation stone laid for GSK vaccines plant at Nashik
-Launch of oral contraceptives: Elogen (desogestrel and ethinylestradiol) and Zerogen (progesterone only pill)
-Enters the diabetes therapeutic segment with the launch of Windia (rosiglitazone) and Windamet (rosiglitazone and metformin)


-Augmentin grows to a Rs. 100 crore brand
-In-licensing alliance with Eisai Pharmaceuticals, Japan and launch of Parit (rabeprazole; gastrointestinal therapy area)
-GlaxoSmithKline divests its Agrivet Farm Care (AFC) Business
-Launches Carzec (carvedilol) and Zemetril (cefprozil)
-GlaxoSmithKline divests its Qualigens Fine Chemicals (QFC) Business
-Launches Arixtra (fondaparinux sodium), an antithrombotic drug used in treating Deep Vein Thrombosis (DVT) and Acute Coronary Syndrome (ACS)


- GlaxoSmithKline (GSK) Pharma has entered into a pact with Japan's Astellas Pharma Inc for exclusive rights to sell the latter's injectable anti-fungal agent Micafungin, branded Mycamine, in the local market.

- GlaxoSmithKline (GSK) Pharma has inked a co-promotion agreement with Daiichi Sankyo India Pharma Ltd for anti-hypertensive drug Olmesartan Medoxomil and its combination products.

-Launches Boostrix (Tetanus Toxoid, Reduced Diphtheria Toxoid and Acellular Pertussis Vaccine, Adsorbed), Infanrix (Diphtheria and Tetanus Toxoids and Acellular Pertussis Vaccine, Adsorbed) and Rotarix (Human Rotavirus Vaccine, Live Attenuated) vaccines
-Launches Tykerb, a drug in combination with capecitabine, is indicated for the treatment of patients with advanced or metastatic breast cancer whose tumours overexpress HER2+/neu (ErbB2+) and who have failed on prior therapy including trastuzumab
-Launches Benitec (Olmersartan) and Benitec-H (Olmesartan + Hydrochlorothiazide) an anti-hypertensive drug in-licensed from Daiichi Sankyo Company Limited, Japan


- GlaxosmithKline cinched a deal with Dr Reddy's to manufacture over a 100 products.

-Launches Cervarix [Human Papillomavirus (Types 16 and 18)] vaccine
-Launches Dermocalm for treatment of Dry Itchy skin
-Commences Albendazole production in Nashik to treat Lymphatic Filariasis
Oct 21, 12:00 am
Oct 21, 4:14 pm
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