At a time of shrinking lifespans for companies, British biopharmaceutical firm GSK has clocked 100 years in India, a journey that’s traversed from making antibiotic penicillin to augmentin, and from paediatric vaccines to the recent shingles vaccine for adults.

To endure and thrive for a century does not happen out of thin air, said Bhushan Akshikar, Managing Director, GlaxoSmithKline Pharmaceuticals Ltd, ahead of a symbolic bell ringing event at the BSE, that brought together top GSK executives who had helmed the company, navigating an ecosystem involving patent and drug-pricing challenges.

The GSK line-up included Renu Karnad, Chairperson, GSK India, Deepak Parekh, Chairman HDFC Asset Management Co Ltd and former Chairman GSK India, and former Managing Directors V Thyagarajan, H Khusrokhan , Dr H Joshipura and A Vaideesh.

At the event, GSK’s current MD Bhushan was joined by Chairperson Renu Karnad and former Chairman DS Parekh

At the event, GSK’s current MD Bhushan was joined by Chairperson Renu Karnad and former Chairman DS Parekh

Déjà vu

“Re-invention and resilience,” Akshikar said, were key to the company’s “repurposed” journey, from being associated with infant formula and the Glaxo baby, to making penicillin in India, besides other pharmaceutical products.  Looking back, he said, the company’s leadership had taken a long-term view, every time it faced headwinds. And today, there is a sense of déjà vu, as the industry continues to discuss patents and pricing concerns, as it did in the 1970s, he said.

The company is listed in India for over six decades, has brands that are as old as the country and participates in about 19 global clinical trials, he said. But nothing can be taken for granted, he said, as the company looks to further repurpose and adopt advanced technology.

Recounting from his life’s journey in the keynote address, AM Naik, L&T Chairman Emeritus, urged those at the GSK gathering to derive “satisfaction” from what they did, rather than merely clock the hours.  Deepak Parekh, Chairman for 20 of his 25 years on the board, recalled the several mergers and acquisitions in his time, involving Burroughs Wellcome, SmithKline Beecham and Biddle Sawyer, alongside learnings in the process. As the lifespan of companies shrink from 60 years earlier to 20 years now, he said, GSK clocked a 100 by staying ahead of the curve. As multinationals look to get a larger piece of the India pie, he urged GSK to look at unmet needs and the ageing population, among other things, as healthcare will continue to be a core priority for the country.

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