GSK provides update on corporate responsibility commitments in 2011 report

Issued: London UK

GlaxoSmithKline (GSK) has today published its Corporate Responsibility Report, in which the company reiterates its commitment to operate responsibly, openly and transparently and sets out advances made on this agenda during 2011. Corporate responsibility is central to GSK’s strategy to deliver sustainable financial performance whilst providing shared value to patients, consumers and governments.

GSK CEO Sir Andrew Witty said: “At GSK, we firmly believe that operating in a responsible and ethical way is essential for the success of our business. This underpins the way we work and how we develop our business model to ensure we deliver sustainable financial performance and provide shared value to patients, consumers and governments. Our record in 2011 shows that we are making good progress – forming agreements to increase access to our newest vaccines for children in the world’s poorest countries, committing to support new research efforts to tackle antimicrobial resistance and starting to deliver against our ambitious goals to reduce our environmental impact. But we are not complacent and we will continue to challenge ourselves in the coming months and years to do all we can to deliver for patients and society.”

2011 highlights

The 2011 Corporate Responsibility Report highlights progress around four core areas of focus: Health for all, Our people and communities, Our behaviour and Our planet: 

• Health for all: 
  GSK is actively working to improve global access to its medicines and vaccines and to develop new treatments where needed to help improve the health and well-being of people around the world. During the year, GSK committed to supply large quantities of vaccines to protect children in the poorest countries of the world against rotavirus gastroenteritis and pneumococcal diseases at fractions of western prices. 2011 was also a landmark year in GSK’s near 30-year search for a malaria vaccine. There are also healthcare challenges in developed countries, with unprecedented pressure on public budgets and many conditions for which treatments do not currently exist. GSK achieved approval of three new medicines in 2011 including Benlysta, a treatment for systemic lupus erythematosus. GSK is continuing to work closely with governments, payers and healthcare systems to ensure its products are as available and affordable as possible.
• Our people and communities: 
  Supporting employees and the communities in which GSK operates underpins the long-term sustainability of the company, creating the right internal and external conditions to support its strategy. During 2011, the company maintained its level of charitable giving at £204 million despite economic pressures. This included product donations valued at £2.2 million and £1.7 million donated in cash to the Japanese Red Cross in response to the Japanese earthquake.
• Our behaviour: 
  Operating in a responsible and ethical way is a priority for GSK and the company continues to examine its policies and operations to ensure consistency with its values and ethics. In 2011, GSK implemented a new incentive compensation system in the US for its professional sales representatives who work directly with health care professionals. The new system eliminates individual sales targets as a basis for bonuses, and instead bases incentives on the quality of the service these representatives deliver to customers to support improved patient health.
• Our planet: 
  The company has also made progress against the environmental strategy it set out in 2010 to enable to company to grow its business while protecting the environment and natural resources for the future. During 2011, it achieved reductions of 5.3% in greenhouse gas emissions from its facilities, reductions of 6.9% in water use and decreased waste sent to landfill by 25%. GSK also revised its environmental strategy in 2011 to set ambitious targets for the entire value chain – from raw materials to product disposal.

As part of its ongoing commitment to responsible, values-based business, GSK will continue to review its plans and commitments across each of the four areas, looking to establish further long-term goals and targets.

GlaxoSmithKline - One of the world’s leading research-based pharmaceutical and healthcare companies – is committed to improving the quality of human life by enabling people to do more, feel better and live longer.  For further information please visit www.gsk.com

Cautionary statement regarding forward-looking statements

Under the safe harbor provisions of the U.S. Private Securities Litigation Reform Act of 1995, GSK cautions investors that any forward-looking statements or projections made by GSK, including those made in this announcement, are subject to risks and uncertainties that may cause actual results to differ materially from those projected. Factors that may affect GSK' s operations are described under 'Risk factors' in the 'Financial review & risk' section in the company's Annual Report 2011 included as exhibit 15.2 to the company's Annual Report on Form 20-F for 2011.