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Corporation
HEALTHCARE | Pharmaceuticals / Drugs
us.gsk.com

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Investments

1

Portfolio Exits

1

Partners & Customers

10

About GSK USA

GlaxoSmithKline (NYSE: GSK) develops and markets pharmaceuticals, vaccines, over-the-counter medicines, and health care products. Its USA division researches and develops a broad range of products in pharmaceuticals, vaccines, and consumer healthcare.

GSK USA Headquarter Location

5 Crescent Drive

Philadelphia, Pennsylvania, 19112,

United States

888-825-5249

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Latest GSK USA News

GSK's digital transformation strategy is bigger than tech for tech’s sake: exec

Nov 28, 2016

by Beth Snyder Bulik | Nov 21, 2016 6:44pm GlaxoSmithKline’s digital transformation isn’t driven by a desire to go digital. Instead, it’s driven by the pharma company’s decision to evolve its business model to move with its customers, one exec says. That distinction may seem like splitting hairs, but it’s the difference between adopting technology for technology sake’s and legitimate change that evolves with customers, Matt Lasmanis, chief information officer at GSK USA, told FiercePharma. And while pharma is often accusing of lagging behind when it comes to digital, industry leaders are realizing the importance of being there and being relevant as healthcare professionals and consumers adopt digital and mobile-first lifestyles. “We don’t do digital because digital is cool and it’s the new thing. Honestly, digital is not that new. I was in publishing before this, and guess what? We were trying to figure out in publishing in 1999 and 2000 ... how to digitize the product, how to do digital marketing, how to build websites, and how to work with Amazon.com,” he said. He frames GSK’s transformation as a business model change “to continue to meet and evolve societal expectations.” Part of the company’s goal in doing that is building trust and creating transparency across the customer experience. GSK undertook three key steps to do that, Lasmanis said. The first, begun about five years ago, was changing how sales reps were incentivized. Glaxo was the first Big Pharma to pay bonuses based on scientific knowledge and healthcare provider relationships built in person and through digital connections, instead of number of prescriptions. The payoff? Lasmanis said GSK has ranked first in its peer group in customer trust with sales reps for the past five years. The second initiative began a few years ago, but was just completed on January 1. GSK stopped paying healthcare providers to speak on its behalf about its products. Instead, it now uses internal expert sources. The switch connects to the company's digital strategy in that in the process of switching over, GSK launched new digital platforms and also now lets doctors “dial in” for information on their own time. The third part of GSK’s digital change is delivering a “frictionless ecommerce experience,” Lasmanis said. Currently only in its U.S. vaccine business, GSK has upgraded its direct business-to-business purchasing system to add multi-device access and new elements that make purchasing vaccines more similar to a consumer shopping experience. “Our business-to-business customers are using those kinds of platforms and portals outside of work and they’re now expecting them in their day-to-day work life as well,” he said. While putting the kibosh on sales quotas and doctor speaking fees may help further the company's digital agenda, though, Glaxo has taken some heat from industry-watchers about the practices in a broader marketing sense. Analysts in 2014 speculated that CEO Andrew Witty's reforms were responsible for the slow start of respiratory newcomers Breo and Anoro, while industry players and reps have said the measures may be hobbling sales in China , where doctors eager for incentives will only prescribe the British pharma giant's meds if they have to. The switches also haven't completely cleaned up the drugmaker's corruption reputation GSK earned with 2014's $489 million China bribery scandal; since then, bribery accusations have popped up in countries including Iraq, Syria, Jordan, Poland, Romania, and, most recently, Yemen. Meanwhile, the digital remake is a continuing journey. While GSK and others are leading industry change , digital spending still remains low compared with other industries. IMS Health noted a 30% increase in U.S. pharma marketing spend in 2015, but that was still only 3.2% of total marketing spend by pharma. “If you look at other sectors that have been through the change—publishing, financial services, retail—a lot have gone through digital transformation already and you can see even by that investment figure that pharma is still at the beginning of that journey,” Lasmanis said. “…We’re trying to get there from a digital perspective, but we’re also thinking about what are the broader things we need to address in our business model to meet future-looking societal expectations even beyond digital.” Read more on

GSK USA Investments

1 Investments

GSK USA has made 1 investments. Their latest investment was in Orchid Cellmark as part of their Unattributed VC on April 4, 1998.

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GSK USA Investments Activity

investments chart

Date

Round

Company

Amount

New?

Co-Investors

Sources

4/13/1998

Unattributed VC

Orchid Cellmark

$27.5M

Yes

Date

4/13/1998

Round

Unattributed VC

Company

Orchid Cellmark

Amount

$27.5M

New?

Yes

Co-Investors

Sources

GSK USA Portfolio Exits

1 Portfolio Exit

GSK USA has 1 portfolio exit. Their latest portfolio exit was Orchid Cellmark on June 14, 2001.

Date

Exit

Companies

Valuation
Valuations are submitted by companies, mined from state filings or news, provided by VentureSource, or based on a comparables valuation model.

Acquirer

Sources

6/14/2001

IPO

Date

6/14/2001

Exit

IPO

Companies

Valuation

Acquirer

Sources

GSK USA Partners & Customers

10 Partners and customers

GSK USA has 10 strategic partners and customers. GSK USA recently partnered with iTeos Therapeutics on June 6, 2021.

Date

Type

Business Partner

Country

News Snippet

Sources

6/14/2021

Licensor

iTeos Therapeutics

United States

GSK and iTeos Therapeutics announce development and commercialisation collaboration for EOS-448, an anti-TIGIT monoclonal antibody, enabling novel next-generation immuno-oncology combinations

Known risk factors include , among others , market conditions , the expected benefits and opportunities related to the agreement between iTeos Therapeutics , Inc. and GSK may not be realized or may take longer to realize than expected due to a variety of reasons , including any inability of the parties to perform their commitments and obligations under the agreement , challenges and uncertainties inherent in product research and development and manufacturing limitations ; success in preclinical testing and early clinical trials does not ensure that later clinical trials will be successful , and early results from a clinical trial do not necessarily predict final results ; the data for EOS-448 may not be sufficient for obtaining regulatory approval ; iTeos Therapeutics , Inc. may not be able to execute on its business plans , including meeting its expected or planned regulatory milestones and timelines , research and clinical development plans , and bringing its product candidates to market , for various reasons , some of which may be outside of iTeos Therapeutics , Inc. ' control , including possible limitations of company financial and other resources , manufacturing limitations that may not be anticipated or resolved for in a timely manner , regulatory , court or agency decisions such as decisions by the United States Patent and Trademark Office with respect to patents that cover our product candidates and the impact of the COVID-19 pandemic ; and those risks identified under the heading `` Risk Factors '' in iTeos Therapeutics , Inc. 's most recent Annual Report on Form 10-K for the year ended December 31 , 2020 and most recent Quarterly Report on Form 10-Q filed with the Securities and Exchange Commission as well as other Securities and Exchange Commission filings made by the Company which you are encouraged to review .

1

1/12/2021

Partner

Vir Biotechnology

United States

2

9/3/2020

Partner

Sanofi

France

Issued: London, UK and Paris, France. Sanofi and GSK initiate Phase 1/2 clinical trial of COVID-19 adjuvanted recombinant protein-based vaccine candidate

The vaccine candidate , developed in partnership by Sanofi Pasteur and GSK , uses the same recombinant protein-based technology as one of Sanofi Pasteur 's seasonal influenza vaccines with GSK 's established pandemic adjuvant technology .

1

6/30/2020

Vendor

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10

4/6/2020

Partner

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10

Date

6/14/2021

1/12/2021

9/3/2020

6/30/2020

4/6/2020

Type

Licensor

Partner

Partner

Vendor

Partner

Business Partner

iTeos Therapeutics

Vir Biotechnology

Sanofi

Country

United States

United States

France

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News Snippet

GSK and iTeos Therapeutics announce development and commercialisation collaboration for EOS-448, an anti-TIGIT monoclonal antibody, enabling novel next-generation immuno-oncology combinations

Known risk factors include , among others , market conditions , the expected benefits and opportunities related to the agreement between iTeos Therapeutics , Inc. and GSK may not be realized or may take longer to realize than expected due to a variety of reasons , including any inability of the parties to perform their commitments and obligations under the agreement , challenges and uncertainties inherent in product research and development and manufacturing limitations ; success in preclinical testing and early clinical trials does not ensure that later clinical trials will be successful , and early results from a clinical trial do not necessarily predict final results ; the data for EOS-448 may not be sufficient for obtaining regulatory approval ; iTeos Therapeutics , Inc. may not be able to execute on its business plans , including meeting its expected or planned regulatory milestones and timelines , research and clinical development plans , and bringing its product candidates to market , for various reasons , some of which may be outside of iTeos Therapeutics , Inc. ' control , including possible limitations of company financial and other resources , manufacturing limitations that may not be anticipated or resolved for in a timely manner , regulatory , court or agency decisions such as decisions by the United States Patent and Trademark Office with respect to patents that cover our product candidates and the impact of the COVID-19 pandemic ; and those risks identified under the heading `` Risk Factors '' in iTeos Therapeutics , Inc. 's most recent Annual Report on Form 10-K for the year ended December 31 , 2020 and most recent Quarterly Report on Form 10-Q filed with the Securities and Exchange Commission as well as other Securities and Exchange Commission filings made by the Company which you are encouraged to review .

Issued: London, UK and Paris, France. Sanofi and GSK initiate Phase 1/2 clinical trial of COVID-19 adjuvanted recombinant protein-based vaccine candidate

The vaccine candidate , developed in partnership by Sanofi Pasteur and GSK , uses the same recombinant protein-based technology as one of Sanofi Pasteur 's seasonal influenza vaccines with GSK 's established pandemic adjuvant technology .

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Sources

1

2

1

10

10

GSK USA Team

13 Team Members

GSK USA has 13 team members, including current Senior Vice President, Axel Hoos.

Name

Work History

Title

Status

Axel Hoos

Senior Vice President

Current

Shobie Ramakrishnan

Senior Vice President

Current

Jack Bailey

President

Former

Russell J. Howard

Maxygen, Affymax, National Institute of Allergy and Infectious Diseases, and Walter and Eliza Hall Institute of Medical Research

President

Former

Paolo Paoletti MD

President

Former

Name

Axel Hoos

Shobie Ramakrishnan

Jack Bailey

Russell J. Howard

Paolo Paoletti MD

Work History

Maxygen, Affymax, National Institute of Allergy and Infectious Diseases, and Walter and Eliza Hall Institute of Medical Research

Title

Senior Vice President

Senior Vice President

President

President

President

Status

Current

Current

Former

Former

Former

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