KTR, GlaxoSmithKline Consumer Health Discuss Company Strategy for Telangana

19 May, 2022 21:12 IST|Sakshi Post

Telangana Minister for IT and Industries, Mr. K.T. Rama Rao met with Mr. Franck Riot, Global R&D Head GSK Consumer Health today to discuss the growth witnessed by the safety and regulatory setup of GlaxoSmithKline in Telangana and their expansion plans for the state. 

GlaxoSmithKline is a healthcare company, which engages in the research, development, and manufacture of pharmaceutical medicines, vaccines, and consumer healthcare products. It operates through the following segments: Pharmaceuticals, Vaccines, Consumer Healthcare, and Corporate Executive Team (CET). GSK was the world’s sixth-largest pharmaceutical company according to Forbes as of 2019. GSK is the tenth largest pharmaceutical company with total revenue of USD 43,731.8 Million and employs around 94,000 people worldwide. The company also ranks 264 in the Fortune Global 500 list (2021). In 2020, GSK had 40 new medicines and 17 new vaccines in development.

Minister noted that the company has invested more than INR 710 crores in Hyderabad and have created total employment of around 125 people. The facility has been expanding rapidly since its establishment in 2016 and has witnessed an investment of around INR 340 crores in last couple of years alone. 

Also Read: Government of Telangana Signs MoU with King’s College London

Going forward, the facility will continue to grow out of Hyderabad even as they separate from GSK to be an independent organization known as Haleon. Haleon will be a global leader 100% focused on consumer health and will have a clear purpose to deliver better everyday health to humanity with a focused strategy to deliver sustainable above-market growth and attractive returns to shareholders.

Minister welcomed the company’s continued investment in Telangana and assured them of all support from the State.  He said that, “I’m delighted to note the remarkable growth of GlaxoSmithKline in Hyderabad. I’m sure that the regulatory and safety operations of GSK in Hyderabad will continue to play a pivotal role in attaining the vision of the GSK group. The government of Telangana will work hand-in-hand with the company and extend all the support required to further accelerate the presence of GSK in Hyderabad.”

Mr. Franck Riot added that the facility will also look for opportunities to expand its presence in the Hyderabad center as necessary to support its future aspirations.
 

Read More:
More News
Entertainment