The story starts in 1830, when a man called John K Smith opened his first drugstore in Philadelphia, USA, and sold drugs, paint, varnish and window glass. Eleven years later, John retired and his son George took on the company, which then became John K Smith &, Co.
This can only be achieved through a firm with extensive knowledge, experience and innovative strategies. To determine the strengths of the company potential, weaknesses, opportunities and threats, it is necessary to conduct a SWOT analysis by GSK.
GSK At A Glance – GSK SWOT Analysis
Company: Glaxo Wellcome
Founders: John K. Smith
Year of establishment: December 2000
CEO: Emma Walmsley
Headquarters: Brentford, United Kingdom
Employees (Dec 2020): 99,000
Ticker Symbol: GSK
Annual Revenue (Dec 2020): EURO€34.099 Billion
Profit net income (Dec 2020): EURO€5.749 Billion
Products & Services: Pharmaceuticals | Vaccines | Oral healthcare | Nutritional products | Over-the-counter medicines
Company Website: www.gsk.com
Top GSK Competitors
Competitors: AstraZeneca | Eli Lilly | Johnson & Johnson | Merck | Takeda Pharmaceutical | Roche and Bayer
GSK SWOT Analysis – SWOT Analysis Of GSK
SWOT Analysis Of GSK analyzes the brand based on its strengths weak points, weaknesses, opportunities, and threats. With GSK SWOT Analysis it is clear that the advantages and disadvantages are internal factors, while threats and opportunities are external elements. Here we are going to talk about GSK SWOT Analysis. Below Is The Detailed SWOT Analysis Of GSK.
GSK Strengths – GSK SWOT Analysis
1. A strong R&D department enhances the scope of its portfolio: GSK has made concentrated efforts to build an efficient research and development department. The company has made strides on respiratory and HIV as well as cardiovascular medicine among others. GSK’s dedication to technologically-driven R&D innovations assists the company to improve its position in the market position.
2. Solid Distribution and Sales distribution networks: GSK has established an effective distribution and sales distribution system across India as well as around the world. A well-established distribution network guarantees that its products are available everywhere and allows it to bring its latest offerings to customers as quickly as is feasible.
3. Strong global presence: GSK products are sold in more than 100 countries around the world that minimize the risks of dependence on a few market segments.
4. GSK-Novartis JV: Novartis announced an agreement for consumer health and vaccines partnership in 2015 this way, which will benefit both Pharmaceutical giants by allowing them to expand their reach of new products, and increase the market’s share.
GSK Weaknesses – GSK SWOT Analysis
1. Healthcare fraud accusations can affect the brand’s images: GSK has been accused in several countries, of having illegally promoted prescription drugs, made false price costs, as well as failing to disclose safety information. For example, there are allegations of marketing antidepressants within the US that weren’t approved by the FDA. These incidents affect the image of the brand of the company.
2. Blockbuster products are exposed to generic competition, and reaching maturity Many GSK products and vaccines are being subject to competition from generic drugs and some blockbuster products are advancing in the point of maturity. This could impact the sales for GSK.
GSK Opportunities – GSK SWOT Analysis
1. Strategic expansion through acquisitions and Collaboration: GSK has expanded its portfolio organically recently. For example, the collaboration between ViiV GSK’s HIV specialty company worked in 2016 with Pfizer along with Shionogi in the year 2016 and also the purchase from GlycoVaxyn located in Switzerland in the year 2015. Collaborations and acquisitions like these help GSK to broaden its product portfolio and increase market share.
2. Product launches boost the business: GSK has introduced a variety of products, mainly in the respiratory and metabolic business in recent times. For instance, the launch of Nucala as an option for the eosinophilic asthma that is refractory in adults. The innovative product launch enhance the portfolio of the company and boost the company’s business.
3. Growing the demand and awareness of the importance of quality healthcare: The growing demand for top-quality health products in India as well as other nations in the developing world provides an chance for drug companies such as GSK to increase its bottom line as well as its top-line.
GSK Threats – GSK SWOT Analysis
1. Drogue price control: Prices of drugs are managed by law in several countries. For example in India the new policy of price control is being proposed in accordance with the which drug prices could decline.
2. The fierce competition within the field: GSK’s products in consumer care and drugs are subjected to fierce industry competition that not only reduces market share but also creates price wars.
3. Competition from generics: Generic products have impacted sales for pharmaceutical companies since generic medicines sales and availability increases.
GSK SWOT Analysis Overview Template
This is the SWOT report that GSK has done. Please let us know if you have additional suggestions to add.
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