Baxter International Company Profile.
Baxter International Inc. is an American health care company with headquarters in Deerfield, Illinois. The company primarily focuses on products to treat hemophilia, kidney disease, immune disorders and other chronic and acute medical conditions. The company had 2011 sales of $13.9 billion, across two businesses: BioScience and Medical Products (in October 2010, the company combined its Medication Delivery and Renal business into a single global business unit, Medical Products). Baxter’s BioScience business produces recombinant and blood plasma proteins to treat hemophilia and other bleeding disorders; plasma-based therapies to treat immune deficiencies and other chronic and acute blood-related conditions; products for regenerative medicine; and vaccines. Baxter’s Medical Products business produces intravenous solutions and other products used in the delivery of fluids and drugs to patients; inhalation anesthetics; contract manufacturing services; and products to treat end-stage renal disease, or irreversible kidney failure, including solutions and other products for peritoneal dialysis and hemodialysis.
GlaxoSmithKline Company Profile.
GlaxoSmithKline plc (GSK) (LSE: GSK, NYSE: GSK) is a British multinational pharmaceutical, biologics, vaccines and consumer healthcare company headquartered in Brentford, London. It is the world's fourth-largest pharmaceutical company after Pfizer, Novartis and Sanofi, measured by 2009 prescription drug sales. The company was established in 2000 by the merger of Glaxo Wellcome plc (formed from the acquisition of Wellcome plc by Glaxo plc) and SmithKline Beecham plc (formed from the merger of Beecham plc and SmithKline Beckman Corporation, which in turn was formed by combining the Smith Kline French and Beckman companies).
GSK has a portfolio of products for major disease areas such as asthma, cancer, virus control, infections, mental health, diabetes and digestive conditions. It also has a large consumer healthcare division that produces oral healthcare and nutritional products, drinks and over-the-counter medicines, including Sensodyne, Boost and Horlicks. Andrew Witty has been the chief executive officer since May 2008.
The company has a primary listing on the London Stock Exchange and is a constituent of the FTSE 100 Index. As of 6 July 2012 it had a market capitalization of £74.8 billion, the fifth-largest of any company listed on the London Stock Exchange. It has a secondary listing on the New York Stock Exchange.
In July 2012 GSK pleaded guilty to criminal charges in the United States, and agreed to pay $3 billion in fines, including a criminal fine of $1 billion, in what was the largest health-care fraud case to date in that country and the largest settlement by a drug company. The charges were related to the company's promotion of its anti-depressants paroxetine (marketed in the United States as Paxil) and bupropion (Wellbutrin) for unapproved uses, and its failure to report safety data about rosiglitazone (Avandia), a diabetes drug. Part of the rest of the settlement was related to the company's sales and marketing of an asthma drug, fluticasone/salmeterol (Advair).
On December 17, 2013, GSK announced that it would cease compensating doctors for prescribing the company’s products, would stop paying professionals for speaking at medical conferences, and that it would remove prescription-related sales targets for its reps. However, according to Reuters, the drugmaker would “still pay fees to doctors carrying out company-sponsored clinical research, advisory activities and market research.”