Highlights of the year

GSK'S BUSINESS STRATEGY

GSK’s business strategy – developed in 2001 at the time of the merger – is delivering results:

To build the best product pipeline in the industry
To achieve commercial and operational excellence
To improve access to medicines for those who cannot afford them
To make GSK the best place for the best people to do their best work
To contribute to investment in communities around the world
To ensure our business decisions take into consideration ethical, social and environmental concerns

£20bn
Total turnover grew 1% despite a £1.5 billion loss of sales to generics

£6bn
Profit before tax grew 2%

75p
Earnings per share grew
2% in 2004, in line with our
earnings guidance

2nd
largest pharmaceutical company in the world

140

projects in clinical development

Our promising product pipeline is one of the largest in the industry

£8m	spent each day on R&D

GSK spends more on R&D than any other UK company

Nearly 80%
increase in New Chemical Entities (NCEs) in pipeline since merger

7%
decrease in greenhouse gas
emissions per unit of sales

82%
of managers surveyed believe that GSK employees are committed and enabled to make meaningful contributions

83%
of managers surveyed are "proud to be part of GSK" and 77% would "gladly refer a friend or family member to work for GSK"

More than
475,000
patients have access to GSK’s medicines mostly free of charge, through the US Patient Assistance Program

More than
85m
people to date protected from lymphatic filariasis with GSK-donated albendazole

£50m
value of donated medicines

33m
preferentially-
priced Combivir tablets (HIV treatment)
shipped to Africa

£500m
12 GSK products achieved sales of more than £500 million in 2004

£2.5bn
sales of Seretide/Advair (up 19%) – GSK’s largest product and the world’s sixth largest pharmaceutical product

Advair

Method of giving
(including US Patient Assistance Program)

Piechart: 5% Management costs, 1% In kind, 15% cash, 79% product.

Value of global community
investment activities

£328m
5.4% of profit before tax

£21m
Health programmes and activities

£18m
Education programmes and activities

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