Glaxo Wellcome Drafting Decentralisation Plan

The plan aims to achieve annual growth of at least 20 per cent for Glaxo Wellcome in India.

This was indicated by Sir Richard Sykes, deputy chairman and chief executive officer of Glaxo Wellcome, in an exclusive interview with Business Standard here yesterday. Sir Richard was here to give the Best Award trophy to Glaxo's Thane plant for maintaining safety and environmental standards.

Elaborating on the company's future plans, Sir Richard said Glaxo Wellcome would now place greater emphasis on local markets like India. A structure would be developed, he said, so that the merged company operating in the local market would continuously maintain a growth rate of at least 20 per cent.

 

According to Sir Richard, the India plan would focus on strategies that may consider a different pricing structure, a focused approach on research and launching of products that would expand and grow the market here. A decentralised organisation would be formed to permit this kind of growth, he added. The company would bring in funds for investment in research institutes depending upon India's stand on the GATT agreement and the issue of intellectual property rights (IPRs), Sir Richard said.

After the acquisition of Wellcome Plc, Glaxo Wellcome is in a strong position to conduct research activities in developing countries. The company's research expenditure has already increased from