Our mission and strategy
Our mission is to help people do more, feel better, live longer.
Our business is focused around the delivery of three strategic priorities which aim to increase growth, reduce risk and improve our long-term financial performance. These priorities are: grow a diversified global business, deliver more products of value and simplify the operating model.
Operating responsibly and ensuring our values are embedded in our culture and decision-making helps us better meet the expectations of society.
Grow a diversified business
Our aim
We have been creating a more balanced business and product portfolio, capable of delivering sustainable sales growth. This is centred on our three business areas of pharmaceuticals, vaccines and consumer healthcare.
In March 2015 we acquired Novartis’s vaccines business (excluding influenza vaccines) and combined our Consumer Healthcare businesses to create a new company.
Highlights
- £23bn Group turnover
- 40% Group turnover outside USA and Europe
Deliver more products of value
Our aim
We have changed our R&D organisation so that it is better able to sustain a pipeline of products that offer valuable improvements in treatment for patients and healthcare providers. This is underpinned by a focus on improving productivity and rates of return in R&D.
Highlights
- 4 significant new product approvals in 2014
- Around 40 new molecular entities in phase II and III
Simplify the operating model
Our aim
As our business continues to change shape, we are transforming how we operate so that we can reduce complexity and become more efficient. This frees up resources to reinvest elsewhere in the business.
Highlights
- 33 days increase in working capital
- £3.5bn cumulative annual savings made through restructuring programmes since 2008
Responsible business
Our aim
Being a responsible business is central to our strategy and how we deliver success is just as important as what we achieve. Ensuring our values are embedded in our culture and decision-making helps us better meet the expectations of society.
Highlights
- 1st in 2014 Access to Medicines Index
- 84% Dow Jones Sustainability Index score, placing us in the top 2% of our sector