Our mission and strategy
Our mission is to help people do more, feel better, live longer.
The 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 balanced 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 balanced business
We have been creating a more balanced business and product portfolio, capable of delivering sustainable sales and earnings growth and improved returns to shareholders.
This is centred on our three business areas of Pharmaceuticals, Vaccines and Consumer Healthcare.
- £23.9bn Group turnover
- 39% Group turnover outside USA and Europe
Deliver more products of value
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.
- Potential to file up to 20 assets by 2020
- Around 40 new potential medicines and vaccines in our pipeline profiled at R&D event in November 2015
- 80% of which we believe are potentially first-in-class
- Of the 40 assets profiled:
- Up to 10 phase III starts in 2016/2017
- Up to 20 phase II starts in 2016/2017
Simplify the operating model
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, or return to shareholders wherever we see the most attractive returns.
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.
- 82% Dow Jones Sustainability Index score for economic, environmental and social performance
- 100% markets operating our new commercial model