THE WORLD'S DOCTORS write more than 1,100 prescriptions for GlaxoSmithKline medicines every minute. The company made pre-tax profits of £6.7 billion ($11 billion) last year. Making people better is big business.
UK pharmaceuticals group GSK's products treat asthma, depression, diabetes, migraine, nicotine addiction and a host of other ailments. But GSK hasn't always been so multi-faceted. Long before its merger with SmithKline Beecham, Glaxo Wellcome's growth was largely driven by the success of a single product, Zantac, which soothes ulcers, indigestion and heartburn.
"That's the beauty of this industry," says Chris Collins, chief executive of life science and medical technology specialist Code Securities. "You can suddenly develop a blockbuster that sells in billions every year and is protected by patents for 10 or 12 years."
Because blockbuster drugs that generate over $1 billion a year can transform a company, global pharmaceuticals companies like GSK ? big pharma ?...
