KARACHI: GlaxoSmithKline Pakistan has declared a final cash dividend of Rs7 per share as its profit after tax rose to Rs1.955 billion during the year ending December 2008. According to financial results of the pharmaceutical company despatched to the Karachi Stock Exchange on Monday, its pre-tax profit soared to Rs3.001bn during the period under review. .

Company overview GlaxoSmithKline Pakistan Limited, the largest pharmaceutical company in Pakistan was incorporated in 2002. GSK Pakistan was formed with the merger of Smith Kline & French Pakistan Limited and Beecham Pakistan (Pvt.) Limited with Glaxo Wellcome Pakistan Limited. Primarily, the company operates in two industry segments: pharmaceuticals (prescription drugs & vaccines) and consumer healthcare (over-the-counter- medicines, oral care & nutritional care). The company manufactures and markets ethical based specialities, other pharmaceutical, animal health and consumer products. GSK Pakistan is the subsidiary of Setfirst Limited UK with 79% stake, whereas its ultimate parent company is GlaxoSmithKline plc, UK. ‘GlaxoSmithKline Plc’ the parent company GlaxoSmithKline Plc is a British multinational pharmaceutical, biological and healthcare company. GSK Plc came into existence with the merger of Glaxo Wellcome and SmithKline Beecham in January 2000. Presently, GSK Plc ...

Glaxosmithkline, the world’s second biggest drugmaker, said on Monday it was buying Bristol-Myers Squibb Pakistan for $36.5 million, adding to recent acquisitions made in emerging markets. In October Glaxo bought Bristol-Myers Squibb Co’s Egyptian mature products for $210 million. The deal includes Veslosef, a popular branded antibiotic in Pakistan, along with products in cancer and cardiovascular drugs. “Although small in size this further highlights the strategy outlined recently by CEO Andrew Witty to increase GSK’s presence in the emerging markets, an area where it currently lags its European peers,” said Simon Mather, an analyst at WestLB.