Karachi, March 24, 2025 – GlaxoSmithKline Pakistan Limited has announced an extraordinary surge in its profit after tax (PAT), registering a staggering 1124% increase for the year ending December 31, 2024.
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GSK Pakistan to Appeal Drug Court Decision
Karachi, April 23, 2024 – GlaxoSmithKline (GSK) Pakistan announced plans to challenge a recent decision by the Drug Court in Rawalpindi, which found certain current and former company officials guilty under the Drugs Act of 1976 for distributing sub-standard drugs.
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GSK Pakistan’s Gross Margin Declines Amid Economic Challenges, Says Chairperson
Karachi, April 3, 2024 – GlaxoSmithKline (GSK) Pakistan’s Chairperson, Lai Kuen Goh, has disclosed a significant decline in the company’s gross margin by 10 percent, attributing it to the prevailing economic conditions in the country.
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GSK Pakistan secures top employer slot for third consecutive year
GSK Pakistan has been re-certified by The Top Employers Institute as a top employer 2023 for the third consecutive year.
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Manufacturing Panadol on negative margins unsustainable: GSK Pakistan
GlaxoSmithKline Pakistan on Friday declared force majeure due to negative margins for manufacturing of Panadol tablets in the country.
The company in a statement said we are one of the few multinational companies left operating in the country.
However, due to the challenges stated above, manufacturing of the Panadol range on negative margins is unsustainable, and despite exhaustive efforts of the Company to mitigate this matter through dialogue, the situation is now beyond our control.
“We are thus forced to declare force majeure regarding the production of Panadol Tablets, Panadol Extra Tablets and Children’s Panadol Liquid Range.”
The company said this is further to our several letters to various government stakeholders regarding the critical issue of extraordinary and rapid increase in paracetamol (raw material) prices in Pakistan, and our appeals to the Federal Government to accord approvals for the adjustments to the selling price(s) of the captioned Panadol range of products, all of which are Paracetamol based.
We had obtained the approval in the 50th Drug Pricing Committee (DPC) of the Drug Regulatory Authority of Pakistan (DRAP), held on 12 January 2022 which were recommended by the DPC for the approval of the Cabinet. But, according to media reports, the same have been rejected after a prolonged delay by the latter without any intimation of reason(s) given to the Company.
Also, although the company has received a routine Consumer Price Inflation (CPI) adjustment for the year 2022 from DRAP on 25 August 2022, the same is not commensurate with the debilitating increase in the prices of the raw material of Paracetamol.
The Company has been an integral part of the pharmaceutical / industrial sector and has made substantial contributions to the economic growth and stability of Pakistan. We have created thousands of jobs, pay taxes, and save Pakistan foreign exchange through import substitution or earned for Pakistan as a result of the exports of its products.
The Company is proud to supply reliable, efficacious and high-quality products with an established safety profile, which have become household names, with the captioned Panadol range being no exception. As a responsible corporate citizen, the Company holds the trust of its patients, consumers, healthcare practitioners, shareholders and all other stakeholders in the highest of regard. During the last twelve (12) months, the Company produced nearly 5,400 million tablets of Panadol 500mg and Panadol Extra to serve its customers, consumers and patients in need.
The Company has played a critical, consumer / patient focused and responsible role during the COVID-19 pandemic, dengue fever crisis and floods across Pakistan, by ensuring continuous supplies of the Panadol range; this despite incurring heavy financial losses on the production of the said Panadol range due to an increase in the price of Paracetamol raw ingredients and in the absence of due approval by the Federal Government of the recommendation of the DPC / DRAP.
We remain keen to meet you to resolve the situation – so that we can continue to deliver everyday healthcare to Pakistani people. We urge the Federal Government to take urgent action to rationalise the prices of the impacted Panadol range commensurate with the increase in the price of the impacted raw material and as recommended by the Drug Pricing Committee of the Drug Regulatory Authority of Pakistan, so as to enable the Company to continue supporting the government to ensure an ongoing supply to all patients and consumers in need.
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GSK confirms raid related to Panadol shortage
KARACHI: GlaxoSmithKline (GSK) on Friday confirmed that government authorities raided one of its warehouses related to shortage of Panadol.
According to information received by Pakistan Stock Exchange (PSX), the company confirmed the raid to one of its warehouses. “We firmly reject the claims related to the hoarding of Panadol intentionally to create shortage,” said Farhan Muhammad Haroon, Chief Executive Officer of GSK.
GSK said that the stocks at the warehouse were intended to be released and distributed in the country in the normal course of business. As GlaxoSmithKline Consumer Healthcare Pakistan Limited (member of the Haleon Group), we are led by our purpose of delivering everyday health with humanity, the company added.
It further said that this has been shown through our commitment to the people of Pakistan throughout challenging times. “We continue to supply Panadol products in the country and have adjusted our production capacity to ensure some product availability, despite market obstacles,” it added.
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GlaxoSmithKline rejects allegations
KARACHI: GlaxoSmithKline (GSK) Consumer Healthcare Pakistan Limited has rejected allegations and said consumer health is its top priority.
In a communication sent to Pakistan Stock Exchange (PSX) on May 20, 2022, the company said about the allegations made by the Young Pharmacists Association against DRAP, GSK and various other organisations etc. While we see no basis for these allegations, we take all concerns seriously and where appropriate, we will take the required actions. Consumer’s safety is and has always been our utmost priority.
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Paracetamol is the active ingredient in popular pain relief medicines such as Panadol and is widely available in various strengths and formulations for children and adults.
Numerous studies show that paracetamol is a suitable and effective treatment for the whole family when used as directed. Panadol has been on the market for over 60 years, and it has become a trusted pain relief brand and household name for millions of families around the world, including in Pakistan.
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Panadol Extend (665 mg modified-release paracetamol) offers clinically proven treatment option for acute or chronic pain, with less frequent dosing and up to eight hours’ pain relief. It is available in countries globally, including countries in Europe (such as Denmark and Finland) and in New Zealand and Australia.
Our key priority is to serve our consumers and we’re committed to deliver and make our products available to consumers who depend on them. Following an increase in demand for Panadol we have immediately responded with increased production and supply remains strong from our factories.
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At GSK Consumer Healthcare, consumer safety is our number one priority, and we strive to ensure safe and appropriate use of our products. Accordingly, as the matter remains sub judice, we would refrain from commenting any further, however we undertake to inform you of any subsequent material developments.
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GlaxoSmithKline Pakistan appoints Erum Shakir as new CEO
KARACHI: Aziz ul Huq, Chief Executive Officer of GlaxoSmithKline Pakistan Limited has resigned for personal reasons and the board of directors of the company appointed Ms. Erum Shakir Rahim as new CEO of the company from March 01, 2020.
In a notice to Pakistan Stock Exchange (PSX) on Thursday, the company said that Aziz ul Huq, CEO, GlaxoSmithKline Pakistan Limited had resigned to join his family in Australia.
The board of directors has accepted his resignation with effect from March 01, 2020 and extended their best wishes to him in his future endeavors.
“The board of directors has also appointed Ms. Erum Shakir Rahim, General Manager, GSK Indonesia Pharma Emerging Markets as new Chief Executive Officer of GlaxoSmithKline Pakistan Limited with effect from March 01, 2020.”
The company said that Ms. Erum Shakir Rahim had a strong track record of success in multiple GM roles within GSK in Malaysia (Brunei), Bangladesh (Developing Countries Asia cluster) and Indonesia.
In her role as GM Indonesia Erum led the team to transform the business and deliver strong top line growth 12 percent, OP growth of 25 percent, increase in market share, rank and EI of 106. With a high people engagement score of 87 percent.
Before taking on general management roles outside Pakistan, Erum worked as director marketing Sales and Business Development GSK Pakistan, Iran and Afghanistan. Where she did multiple commercial and strategic roles of increasing responsibility across pharma, vaccines and consumers. These included roles in marketing, sales, comms, GA and business development.
She contributed to GSK Pakistan’s market leading position in the country with 12 percent market share and eight GSK brands in the top 20 by launching 20 new assets across several therapy areas as well as leading critical business development initiatives. She is also on the board of directors in GSK Pakistan and Bangladesh in her previous roles.