Trans National Corporation - GSK Flashcards
What does GSK stand for?
GlaxoSmithKline
What is a GSK?
A science-led global healthcare company developing vaccinations, medicines and healthcare products.
What are the historic events which have resulted in the creation of GSK (include dates!)
In 1715, the company started as Plough Court Pharmacy.
In 1842 Beecham launched his range of well known products; also now part of GSK.
In 1930 Smith opened his first drugstore.
In 1965 Kline joined Smith’s company.
I989 SmithKline and Beecham merged.
In 2000 GlaxoSmithKline started operations.
Why are R&D centres situated in many MEDC’s?
So the company can hire talented people who have had a good education. Also, as the centres are distributed all across the world, there are many commercial operations stretched across the globe.
E.G. In Stevenage, UK, which is a central location between key medical research universities such as Oxford, Cambridge and those in London.
State 2 advantages of GSK
Research hels develop cures for global diseases (eg ebola). By working from several research centres across the world, they are well positioned to deal with regional diseases etc.
There are lots of jobs available for people - GSK employ 13,000 people in research alone.
Worldwide production reduces transport costs and lead-times on the delivery of products to where they are needed.
State 2 disadvantages of GSK
As it is such a big company and often develops medicines that no other competitor produces, there is no competition which means higher prices for the consumer.
It takes a long time to bring drugs to the market.
Rare diseases may not get research or treatment because there is no profit margin.
Governments may not be able to afford vaccinations that are made ‘at a profit’ and so there is an implication for public health.
