GSK plc

Glaxo Wellcome

Glaxo

Joseph Nathan and Co. was founded in 1873, as a general trading company in Wellington, New Zealand, by a Londoner, Joseph Edward Nathan. In 1904, it began producing a dried-milk baby food from excess milk produced on dairy farms near Bunnythorpe. The resulting product was first known as Defiance, then as Glaxo (cf. Greek galaxias, "milky"), and was sold with the slogan "Glaxo builds bonnie babies." The Glaxo Laboratories sign is still visible on what is now a car repair shop on the main street of Bunnythorpe. The company's first pharmaceutical product, released in 1924, was vitamin D.

Glaxo Laboratories was incorporated as a distinct subsidiary company in London in 1935. Joseph Nathan's shareholders reorganised the group's structure in 1947, making Glaxo the parent and obtained a listing on the London Stock Exchange. Glaxo acquired Allen & Hanburys in 1958. The Scottish pharmacologist David Jack was hired as a researcher for Allen & Hanburys a few years after Glaxo took it over; he went on to lead the company's research and development (R&D) until 1987. After Glaxo bought Meyer Laboratories in 1978, it began to play an important role in the US market. In 1983, the American arm, Glaxo Inc., moved to Research Triangle Park (US headquarters/research) and Zebulon (US manufacturing) in North Carolina.

Burroughs Wellcome

Burroughs Wellcome & Company was founded in 1880, in London by the American pharmacists Henry Wellcome and Silas Burroughs. The Wellcome Tropical Research Laboratories opened in 1902. In the 1920s, Burroughs Wellcome established research and manufacturing facilities in Tuckahoe, New York, which served as the US headquarters until the company moved to Research Triangle Park in North Carolina in 1971. The Nobel Prize winning scientists Gertrude B. Elion and George H. Hitchings worked there and invented drugs still used many years later, such as mercaptopurine. In 1959, the Wellcome Foundation bought Cooper, McDougall & Robertson Inc to become more active in animal health.

When Burroughs Wellcome decided to move its headquarters, the company selected Paul Rudolph to design its new building. The Elion-Hitchings Building "was celebrated worldwide when it was built," according to Paul Rudolph Heritage Foundation president Kelvin Dickinson. Alex Sayf Cummings of Georgia State University wrote in 2016, that the "iconic building helped define the image of RTP," saying, "Love it or hate it, Rudolph's design remains an impressively audacious creative gesture and an important part of the history of both architecture and Research Triangle Park." United Therapeutics, which bought the building in 2012, announced plans in 2020, to tear it down.

Merger

Glaxo and Wellcome merged in 1995, to form Glaxo Wellcome plc. The merger was then considered the biggest in the UK corporate history. Glaxo Wellcome restructured its R&D operation that year, cutting 10,000 jobs worldwide, closing its R&D facility in Beckenham, Kent, and opening a Medicines Research Centre in Stevenage, Hertfordshire. Also that year, Glaxo Wellcome acquired the California -based Affymax, a leader in the field of combinatorial chemistry.

By 1999, Glaxo Wellcome had become the world's third-largest pharmaceutical company by revenues (behind Novartis and Merck), with a global market share of around 4 per cent. Its products included Imigran (for the treatment of migraine), salbutamol (Ventolin) (for the treatment of asthma), Zovirax (for the treatment of coldsores), and Retrovir and Epivir (for the treatment of AIDS). In 1999, the company was the world's largest manufacturer of drugs for the treatment of asthma and HIV/AIDS. It employed 59,000 people, including 13,400 in the UK, had 76 operating companies and 50 manufacturing facilities worldwide, and seven of its products were among the world's top 50 best-selling pharmaceuticals. The company had R&D facilities in Hertfordshire, Kent, London and Verona (Italy), and manufacturing plants in Scotland and the north of England. It had R&D centres in the US and Japan, and production facilities in the US, Europe and the Far East.

SmithKline Beecham

Beecham

In 1848, Thomas Beecham launched his Beecham's Pills laxative in England, giving birth to the Beecham Group. In 1859, Beecham opened its first factory in St Helens, Lancashire. By the 1960s, Beecham was extensively involved in pharmaceuticals and consumer products such as Macleans toothpaste, Lucozade and synthetic penicillin research.

SmithKline

John K. Smith opened his first pharmacy in Philadelphia in 1830. In 1865, Mahlon Kline joined the business, which 10 years later became Smith, Kline & Co. In 1891, it merged with French, Richard and Company, and in 1929, changed its name to Smith Kline & French Laboratories as it focused more on research. Years later it bought Norden Laboratories, a business doing research into animal health, and Recherche et Industrie Thérapeutiques in Belgium in 1963, to focus on vaccines. The company began to expand globally, buying seven laboratories in Canada and the United States in 1969. In 1982, it bought Allergan, a manufacturer of eye and skincare products.

Smith Kline & French merged with Beckman Inc. in 1982, and changed its name to SmithKline Beckman. In 1988, it bought International Clinical Laboratories.

Merger

In 1989, SmithKline Beckman merged with Beecham Group to form SmithKline Beecham P.L.C.. The headquarters moved from the United States to England. To expand R&D in the United States, the company bought a new research center in 1995; another opened in 1997, in England at New Frontiers Science Park, Harlow.

2000: Glaxo Wellcome and SmithKline Beecham merger

Glaxo Wellcome and SmithKline Beecham announced their intention to merge in January 2000. The merger was completed on 27 December that year, forming GlaxoSmithKline (GSK). The company's global headquarters were at GSK House, Brentford, London, officially opened in 2002, by then-Prime Minister Tony Blair. The building was erected at a cost of £300 million and as of 2002 [update] was home to 3,000 administrative staff.

2001–2010

GSK completed the acquisition of New Jersey–based Block Drug in 2001, for US$1.24 billion. In 2006, GSK acquired the US-based consumer healthcare company CNS Inc., whose products included Breathe Right nasal strips and FiberChoice dietary supplements, for US$566 million in cash.

Chris Gent, previously CEO of Vodafone, was appointed chairman of the board in 2005. GSK opened its first R&D centre in China in 2007, in Shanghai, initially focused on neurodegenerative diseases. Andrew Witty became the chief executive officer in 2008. Witty joined Glaxo in 1985, and had been president of GSK's Pharmaceuticals Europe since 2003.

In 2009, GSK acquired Stiefel Laboratories, then the world's largest independent dermatology drug company, for US$3.6 billion. In November 2009, the FDA approved GSK's vaccine for 2009 H1N1 influenza protection, manufactured by the company's ID Biomedical Corp in Canada. Also in November 2009, GSK formed a joint venture with Pfizer to create ViiV Healthcare, which specializes in HIV research. In 2010, the company acquired Laboratorios Phoenix, an Argentine pharmaceutical company, for US$253m, and the UK-based sports nutrition company Maxinutrition for £162 million (US$256 million).

2011–2022

In 2011, in a US$660-million deal, Prestige Brands Holdings took over 17 GSK brands with sales of US$210 million, including BC Powder, Beano, Ecotrin, Fiber Choice, Goody's Powder, Sominex and Tagamet. In 2012, the company announced that it would invest £500 million in manufacturing facilities in Ulverston, northern England, designating it as the site for a previously announced biotech plant. In May that year it acquired CellZome, a German biotech company, for US$98 million, and in June, worldwide rights to alitretinoin (Toctino), an eczema drug, for US$302 million. In 2013, GSK acquired Human Genome Sciences (HGS) for US$3 billion; the companies had collaborated on developing the lupus drug Belimumab (Benlysta), albiglutide for type 2 diabetes, and darapladib for atherosclerosis, and in September, sold its beverage division to Suntory. This included the brands Lucozade and Ribena; however, the deal did not include Horlicks.

In March 2014, GSK paid US$1 billion to raise its stake in its Indian pharmaceutical unit, GlaxoSmithKline Pharmaceuticals, to 75 per cent as part of a move to focus on emerging markets. In April 2014, Novartis and Glaxo agreed on more than US$20 billion in deals, with Novartis selling its vaccine business to GSK and buying GSK's cancer business. In February 2015, GSK announced that it would acquire GlycoVaxyn, a Swiss pharmaceutical company, for US$190 million, and in June that year that it would sell two meningitis drugs to Pfizer, Nimenrix and Mencevax for around US$130 million.

Philip Hampton, at that time chair of the Royal Bank of Scotland, became GSK chairman in September 2015. On 31 March 2017, Emma Walmsley became CEO. She is the first female CEO of the company. In December 2017, Reuters reported that Glaxo had increased its stake in its Saudi Arabian unit to 75% (from 49%) taking over control from its Saudi partner Banaja KSA Holding Company.

With respect to rare diseases, the company divested its portfolio of gene therapy drugs to Orchard Therapeutics in April 2018. In November 2018, Reuters reported that Unilever was in prime position to acquire GSK's interest in its Indian unit, GlaxoSmithKline Consumer Healthcare Ltd, in a sale that could generate around US$4 billion for the company. Nestlé and Coca-Cola have also been reported to be interested in the business unit as they look to strengthen their presence in India. On 3 December 2018, GSK announced that Unilever would acquire the Indian-listed GlaxoSmithKline Consumer Healthcare business for US$3.8 billion (£2.98 billion). Unilever will pay the majority of the deal in cash, with the remaining being paid in shares in its Indian operation, Hindustan Unilever Limited. Upon completion, GSK will then own around 5.7% of Hindustan Unilever Limited, selling those shares in a number of tranches. The same day, the company also announced it would acquire oncology specialist, Tesaro, for US$5.1 billion. The deal will give GSK control of ovarian cancer treatment, Zejula - a member of the class of poly ADP ribose polymerase (PARP) inhibitors.

In October 2019, GSK agreed to sell its rabies vaccine, RabAvert, and its tick-borne encephalitis vaccine, Encepur, to Bavarian Nordic for US$1.06 billion (€955 million). In July 2020, GSK acquired a 10% stake in German biotech company CureVac.

GSK–Novartis consumer healthcare buy-out

In March 2018, GSK announced that it has reached an agreement with Novartis to acquire Novartis's 36.5% stake in their Consumer Healthcare Joint Venture for US$13 billion (£9.2 billion).

GSK–Pfizer joint venture

In December 2018, GSK announced that it, along with Pfizer, had reached an agreement to merge and combine their consumer healthcare divisions into a single entity. The combined entity would have sales of around £9.8 billion ($12.7 billion), with GSK maintaining a 68% controlling stake in the joint venture. Pfizer would own the remaining 32% shareholding. The deal builds on an earlier 2018 deal where GSK bought out Novartis' stake in the GSK-Novartis consumer healthcare joint business.

Subsequent split

On the culmination of the Consumer Healthcare string of deals, GSK split into two separate companies, via a demerger and subsequent listing of the joint venture. This created two publicly traded companies, one focusing on pharmaceuticals and research & development, the other on consumer healthcare. On 22 February 2022, GSK announced that the spin-off consumer healthcare company would be called Haleon.

In January 2022, the company announced that they had received three unsolicited offers from Unilever to acquire the Consumer Healthcare business unit, with the final proposal valuing the business unit at £50 billion (£41.7 billion in cash, plus £8.3 billion in Unilever shares). However GSK declined all outside offers/attempts to acquire its consumer healthcare business and moved forward with its plan to complete the demerger from the main biopharmaceutical business.

Latest history

In April 2022, the business announced it would acquire Sierra Oncology Inc. for $1.9 billion ($55 per share). In May 2022, GSK announced it would acquire Affinivax and its phase II 24-valent pneumococcal vaccine candidate for up to $3.3 billion, strengthening its vaccine business. On 16 May 2022, the company changed its name from GlaxoSmithKline to GSK. In April 2023, GSK announced it would acquire Bellus Health Inc. for $2 billion. In February 2024, the company acquired Aiolos Bio for over $1 billion, adding to its existing asthma business through AIO-001, a long-acting monoclonal antibody that targets the thymic stromal lymphopoietin cytokine. In May 2024, GSK sold off its 4.2% shareholding in Haleon for $1.58 billion. In July 2024, GSK moved its headquarters from Brentford to New Oxford Street in central London.

As of 2025, capital investments in the company via its American Depository Receipts in New York were outpacing those via the company's primary listing in London. Mounting speculation that GSK would be moving its primary share listing to the New York Stock Exchange, following similar speculation about rival AstraZeneca, has been met with denials from GSK's corporate executives. In September 2025, the company announced Emma Walmsley was stepping down as chief executive at the beginning of 2026. GSK has appointed Luke Miels as her replacement, who has been the company's chief commercial officer since 2017. In October 2025, GSK announced it had acquired the rights to a prostate cancer drug developed by Syndivia, a French biotechnology company, for £268 million. In January 2026, GSK agreed to acquire Rapt Therapeutics in a deal valued at $2.2 billion.

In January 2026, Alteogen Inc. entered into an exclusive license agreement with Tesaro, Inc., a subsidiary of GSK, allowing Tesaro to acquire world-wide rights to use ALT-B4, Alteogen's novel hyaluronidase utilising Hybrozyme technology, for the development and commercialisation of a subcutaneous formulation of dostarlimab, a programmed death receptor-1 (PD-1) blocking antibody. In February 2026, GlaxoSmithKline announced an agreement to acquire Canada-based biopharmaceutical firm 35Pharma for $950 million in cash. The deal includes the early-stage drug HS235 for pulmonary arterial hypertension and related conditions. In June 2026, GSK announced it was acquiring Nuvalent, an American biopharmaceutical company, for $10.6 billion. Subject to regulatory and shareholder approval, if complete, the deal will be its largest in more than 10 years.

Acquisition-history diagram

GSK GlaxoSmithKline SmithKline Beecham Plc (Renamed 1989) SmithKline Beckman (Renamed 1982) SmithKline-RIT (Renamed 1968) Smith, Kline & French (Reorganized 1929 into Smith Kline and French Laboratories) French, Richards and Company (Acquired 1891)

Smith, Kline and Company

Recherche et Industrie Thérapeutiques (Acquired 1968)

Beckman Instruments, Inc. (Merged 1982, Sold 1989) Specialized Instruments Corp. (Acquired 1954)

Offner Electronics (Acquired 1961)

International Clinical Laboratories (Acquired 1989)

Reckitt & Colman (Acquired 1999)

Beecham Group Plc (Merged 1989) Beecham Group Ltd S. E. Massengill Company (Acquired 1971)

C.L. Bencard (Acquired 1953)

County Chemicals

Norcliff Thayer (Acquired 1986)

Glaxo Wellcome Glaxo (Merged 1995) Joseph Nathan & Co

Allen & Hanburys (Founded 1715, acquired 1958)

Meyer Laboratories (Merged 1978)

Affymax (Acquired 1995)

Wellcome Foundation (Renamed 1924, merged 1995) Burroughs Wellcome & Company (Founded 1880)

McDougall & Robertson Inc. (Acquired 1959)

Block Drug (Acquired 2001)

CNS Inc. (Acquired 2006)

Stiefel Laboratories (Acquired 2009)

Laboratorios Phoenix (Acquired 2010)

Maxinutrition (Acquired 2010)

CellZome (Acquired 2011)

Human Genome Sciences (Acquired 2013)

GlycoVaxyn (Acquired 2015)

Tesaro (Acquired 2019)

Sitari Pharmaceuticals (Acquired 2019)

Sierra Oncology (Acquired 2022)

Affinivax (Acquired 2022)

Bellus Health Inc. (Acquired 2023)

Aiolos Bio (Acquired 2024)

Elsie Biotechnologies (Acquired 2024)