GSK, the global pharmaceutical company, has adopted a robust business development strategy in recent years. This article aims to explore the growth drivers behind GSK’s business development strategy.
Background
GSK’s business development strategy can be traced back to 2015 when the company announced a series of deals to reshape its product portfolio. The company focused on strengthening its core capabilities, divesting non-core assets, and partnering with other companies to access new expertise and markets.
Partnerships
One of the key growth drivers behind GSK’s business development strategy is partnerships. The company has partnered with various companies to gain access to new technologies, expertise, and markets. For example, GSK signed a deal with Adaptimmune to develop cancer treatments using Adaptimmune’s technology. The company also partnered with 23andMe to discover new treatments for human genetic diseases.
Investments
Another growth driver behind GSK’s business development strategy is investments. The company has invested heavily in research and development (R&D) to develop innovative products. GSK spent over £4 billion in R&D in 2019. The company has also invested in venture capital funds to gain access to new technologies and startups. For example, GSK invested $300 million in the biotech company Vir Biotechnology to develop treatments for infectious diseases.
Portfolio Optimization
GSK’s business development strategy also includes portfolio optimization. The company has divested non-core assets and focused on its core therapeutic areas. For example, GSK sold its oncology portfolio to Novartis for $16 billion in 2015 to focus on its respiratory and HIV businesses. The company also acquired Novartis’s vaccine business for $7.1 billion to strengthen its vaccine portfolio.
Conclusion
In conclusion, GSK’s business development strategy includes partnerships, investments, and portfolio optimization. By partnering with other companies, investing in R&D and venture capital funds, and optimizing its portfolio, GSK is well-positioned to drive growth and innovation in the pharmaceutical industry.
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