GSK_ Annual_Report_2021-22

Message from the Chairperson Embracing new ambitions for patients and shareholders Dear Shareholders, In 2021-22, the Indian economy continued to face sustained headwinds due to the pandemic and other external environment factors. However, the silver lining is that economic activity has gradually started to edge towards normalcy. According to International Monetary Fund (IMF) forecasts, India is expected to be amongst the fastest growing economies in 2022 and your Company continues to remain at the forefront of serving the healthcare needs of the country. While the impact of the pandemic continued to mean we operate in a highly dynamic operating environment, your Company focused on sharpening commercial execution and cost discipline for our key brands. Your Company’s established portfolio made market share gains, particularly in the anti-infectives and pain therapeutic areas which have been crucial in the fight against Covid. Your Company remains no.1 in the vaccines self-pay market and maintained leadership in dermatology. During the year, Iodex and Ostocalcium brand trademarks in India were transferred to GlaxoSmithKline Asia Private Limited for ` 1,649 crores and this income formed part of the profits from discontinued operations. Accordingly, the Board was pleased to recommend a dividend of ` 90 per share which included a special dividend of ` 60 per share. Your Company launched Trelegy Ellipta, India’s first single inhaler triple therapy (SITT) in a once-daily regime for chronic obstructive pulmonary disease (COPD) patients. Your Company is now gearing up for the launch of the shingles vaccine in the coming year. This vaccine will provide an option for patients who are vulnerable to this painful disease. Continuing to play a part as a responsible corporate citizen, your Company launched a flagship community initiative, ‘GSK Scholars’. This programme enables meritorious, but financially disadvantaged students, to study medicine from government medical colleges. Under this scholarship, a sum of up to ` 1,00,000 will be granted every year, over a four- and a half year period, to cover the academic expenses incurred for the MBBS programme. Through this programme your Company aims to make STEM education more accessible in the country. Your Company is a place where outstanding people thrive. Your Company provides an inclusive work environment in which it develops talent, rewards great performance and protects its people. For the fourth time in a row, your Company was recognised as one of the 100 Best Companies for Women in India 2021 by Working Mother and Avtar, a diversity, equity and inclusion solutions firm. Your Company was also voted as one of India’s Best Workplaces in Health & Wellness 2021 by Great Place to Work Institute. I remain excited about the future of your Company as we prepare for a step change in growth and performance while embracing new ambitions for patients and shareholders. On behalf of all Board members, I would like to extend my sincere gratitude to employees for their commitment and shareholders for your continued trust. Regards, R. S. Karnad 2 GlaxoSmithKline Pharmaceuticals Limited | Annual Report 2021-22