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KTR meets GSK Consumer Health R&D Head in UK
Minister for IT and Industries KT Rama Rao met with Franck Riot, Global R&D Head, GSK Consumer Health in UK
Welcomes the company’s continued investment in TS and assures them of all support from the State
Hyderabad: Minister for IT and Industries KT Rama Rao met with Franck Riot, Global R&D Head, GSK Consumer Health in UK on Thursday to discuss the growth witnessed by the safety and regulatory set up 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 $43,731.8 million and employs around 94,000 people worldwide. The company also ranks 264 on 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 Rs. 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 Rs 340 crores in the last couple of years alone.
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 per cent 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.
He 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."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.
