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Wellcome to the world Glaxo Wellcome (the U.S. subsidiary of Glaxo Wellcome PLC) may not sound like a household name, but the company's drugs have been welcomed by the world. Founded as a baby food company in 1873 by Englishman Joseph Nathan, Glaxo Wellcome is no longer spoon-feeding British babies. As the second-largest drug manufacturer in the world, Glaxo Wellcome PLC currently employs 55,000 people around the globe. Glaxo entered the pharmaceutical industry in 1927 with Ostelin, a liquid vitamin D concentrate, and produced penicillin and anesthetics during WWII. The company went public in 1947, but it has experienced its greatest success since introducing the best-selling ulcer drug Zantac in 1981. Another top seller is Retrovir, the most-prescribed AIDS treatment in the world, as well as a variety of prescription drugs for anesthesiology, bacterial infections, cardiology, dermatology, oncology, and respiratory diseases. Zantac wars In 1995 Glaxo made a $14.9 billion bid for Wellcome, a pharmaceutical company that led the world in antiviral medicines. Wellcome brought Zovirax (antiviral), Retrovir (for AIDS), and Lamictic (for epilepsy) to the company, whose research and development costs were substantially reduced. The following year, Glaxo sold its share in consumer ventures (Sudafed, Actifed, and Neosporin) to concentrate on developing prescription medicines. Glaxo's success with the ulcer drug Zantac had been unparalleled in the pharmaceutical world; introduced in 1981, it quickly became the world's best selling prescription drug and remained on top for a full decade. Global sales from Zantac reached $1.6 billion in 1996, but the loss of its patent in 1997 would be a bitter pill to swallow. After fending off Novopharm Ltd. for six years, Glaxo lost its monopoly on Zantac when a U.S. federal appeals court ruled in favor of the competition. Glaxo Wellcome predicted it would lose 80 to 90 percent of Zantac's sales to generic versions of the drug, but the company successfully compensated by diversifying its line of new products. Philly cheesesteaks vs. fish and chips In early-1998 the FDA approved the antidepressant Wellbutrin SR (sold as Zyban) for use as the first non-nicotine prescription anti-smoking drug. That same year, Glaxo called off a $70 million merger with SmithKline Beecham, which would have created the largest pharmaceutical company in the world. Neither company could produce a remedy for personal egos, however, with SmithKline fearing a hostile takeover and Glaxo unwilling to move company headquarters from London to Philadelphia. When Bob Ingram was appointed CEO of Glaxo Wellcome in June 1998, he vowed to invest in R&D to introduce three new drugs a year, beginning in the year 2000. Ingram may yet get some help with his goal; rumors of the SmithKline merger were re-ignited in spring 1999 as its chief executive approaches retirement. A pharmaceutical Goliath In January 2000, the long-anticipated merger finally began to look like a reality. Glaxo announced that it would acquire SmithKline in a stock swap valued at $75.7 billion, instantly creating the world's largest drug company. The merged entity would have about 7.3 percent of the worldwide prescription business. The proposed company, to be called Glaxo SmithKline PLC, anticipates selling an increasing number of prescription drugs over the Internet. And rivals beware: the company plans to "send a shiver down the spines" of competitors by exploiting their tremendous research and development capacities. The deal still has to be evaluated by antitrust regulators in the U.S. and Europe, and the company will likely have to sell off some overlapping products. The five-year itch In July 1998, Glaxo filed suit against the U.S. subsidiary of Teva Pharmaceuticals, claiming it used patented Glaxo technology to produce antidepressants. One month later, Glaxo announced it was dissolving its over-the-counter joint venture with distributor Warner-Lambert, which had lasted five years. Both companies gained flexibility from the divorce, with Glaxo regaining the rights to sell Zantac 75 (the over-the-counter version) outside the U.S. and in Canada. Glaxo also received world rights to non-prescription forms of Zovirax and Beconase, as well as all future prescription products with over-the-counter versions. In December 1998, Glaxo joined up with Ceuta Healthcare, which then began marketing Glaxo's top over-the-counter products. Looking ahead A new president and CEO took over Glaxo's U.S. subsidiary in January 1999. George J. Morrow entered the company at a good time; U.S. sales were up 14 percent in 1998 despite overall decreases globally. International sales in AIDS and migraine medications have been falling slowly, due to a decrease of AIDS cases in developed countries and more competition among migraine remedies. At the end of 1998, Glaxo Wellcome acquired Amoun Pharmaceutical Industries for $117 million, becoming Egypt's largest pharmaceutical manufacturer. Despite a recent rash of protests in the U.K. by animal activists, Glaxo Wellcome looks poised for continued success in the next millennium. Effective Aug. 21, 2000, Glaxo Wellcome PLC will merge with SmithKline Beecham PLC to become Glaxo SmithKline PLC, the world's biggest drug maker. The $69.53 billion (46 billion pound, 72.93 billion euros) merger is expected to bring in $24.9 billion of annual sales for the new company, reflecting divested businesses. The joint business will have 107,000 employees and maintain leadership in vaccines and in the treatment of diseases ranging from AIDS to migraines. The merger is subject to shareholder approval, however.
Now is "a GREAT time to get hired by Glaxo." "Those downsizing days are over" and are being replaced by a new period of expansion and growth. "The stressfulness of the interviewing process is very dependant upon the department in which you interview." However, one insider remarked: "It was generally relaxed, most of it." Glaxo interviewers "would like to know your personality, any relevant past experience, what your major interests are, what your expectations are." For marketing positions, a "majority of the interviews are with people having an internal connection." For computer and science departments, one techie offers this insight: "I would guess that it is 70 percent referral and 30 percent applications to the company's HR department." In other words, "referrals are definitely a way in." Visit the Glaxo web site to find out more about the company and its departments. Then, send a resume and a cover letter to Human Resources specifying the division of Glaxo in which you are interested.
Beyond Zantac "Glaxo is built into four separate divisions," including "Glaxo Pharmaceuticals (Zyban, Ceftin, Flovent), Boroughs Wellcome (same products, different promotions), Allan & Hanbury's (Serevent, Flovent, Flonase) and Cerenex (Imitrex, Wellbutrin SR, and Lamictal)." While "there are other selling faces," these are the major units. "For years, people thought Zantac was Glaxo, and to a certain extent it was," but the company has diversified the product line "to the extent that the loss of Zantac sales won't adversely affect the company." Glaxo's growth Employees feel that Glaxo is "a very dynamic company with a lot of strong years," and is "probably among the best of the non-biotech companies." Insiders describe Glaxo culture as "very fast moving and aggressive, but it is also informal and casual." "The people in the company are very open and like to take calculated risks that can have big payoffs" in the long run. The company's management "avoids the top-down approach." At Glaxo, "decisions on whom to call on, how often, etc., are pushed down as far as possible" in order to get as close to the customer as possible. Job security is not a concern, as "Glaxo is growing." 900 reps were added in 1998 -- a 33 percent increase in staffing. Glaxo continues to expand, "much to the amazement of many industry watchers." Perks Glaxo distinguishes itself as far as salary is concerned, with "bonuses as an integral part of overall pay." One Glaxo employee remarks that "if you are good at your job, you will make plenty of money." For the Glaxo sales force, bonuses comprise "approximately 33 percent of total compensation." "There is no shortage of funds for entertaining clients," and the sales team appreciates big expense accounts, "nice cars to drive," and "lots of opportunities for trips to nice places." Another bonus is autonomy: "Glaxo provides the information to allow one to determine who the key targets are." Employees also enjoy the benefits of on-site "fitness centers, child daycare, softball, tennis, and volleyball courts" and, naturally, "good health benefits." In the company of women One employee reports that among his department, "all three senior managers are women." The company promotes on "performance and potential, regardless of background." Glaxo is "regularly featured" in Working Woman magazine as "one of the best places for women to work in the country." Many at the company feel Glaxo "seems to treat everyone with equal respect," employing many women and minorities, "particularly in science." However, one insider does remark that "If you look at the pictures of the board members and executive management, it is generally all white and male." On the job Glaxo hours are flexible. "You can come in anytime between 7 to 9 and leave between 4 to 6 with a one-hour lunch." "We stress working hard, but also having a good time," says one Glaxo employee. All in all, many seem to agree with one sales rep who put it this way: "I would not work for another pharmaceutical."
Human Resources
Prescription and over-the-counter medications More Company Profiles For more career information, go to Vault.com ©2000, Vault.com Inc
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