GSK_Annual Report_2024

Chairperson’s statement Dear Shareholders, It is a privilege for me to present your company’s annual report for the financial year (FY) 2023-24 for the fifth year and more importantly as we step into our centenary year in November 2024. A century of improving the quality of human life is indeed a noteworthy landmark. India continues to be one of the fastest growing major economies of the world, powered by a strong, reform-focused government. The economy is expected to achieve a growth rate of approximately 7% or more in FY 2023-24, with the participation of all sectors. As I reflect on the year gone by, it is imperative to acknowledge the challenges and triumphs that have shaped the journey of your company. The landscape of healthcare and pharmaceuticals sector is ever-evolving, and FY 2023-24 has been a testament to your company’s resilience and commitment to excellence. Your company’s achievements across business units— Shingrix, General Medicines, Paediatric Vaccines, and Specialty—are a reflection of its strategic approach and the dedicated efforts of the team. Fostering Diversity and Inclusion Your company’s commitment to diversity and inclusion extends beyond business metrics. Your company is proud to nurture a culture where every individual feels valued, respected, and empowered to contribute their best. The Employee Resource Groups (ERGs) - SPECTRUM and Women’s Leadership Initiative (WLI) plays a pivotal role in championing diversity and inclusion in our workplace. SPECTRUM focuses on LGBTQIA+ inclusion, while WLI promotes gender equality and women’s empowerment. These ERGs create a supportive environment where employees from all backgrounds can thrive and contribute to our collective success. By fostering a culture of belonging and acceptance, your company not only attracts diverse talent but also fosters innovation and creativity. Your company also recognises the importance of maintaining a congenial and learning workplace culture. Your company remains committed to fostering an environment that encourages creativity, collaboration and a shared sense of purpose. Eliminating Lymphatic Filariasis: A Long-term Commitment With a legacy nearing a century in India, your company has embraced a noble cause since 2000: the elimination of lymphatic filariasis (LF). This debilitating disease, known as elephantiasis, inflicts severe pain and disfigurement, carrying profound social and psychological implications. As a leading cause of permanent disability, LF demands urgent attention. In partnership with the World Health Organization (WHO), your company has spearheaded mass drug administration (MDA) efforts in affected regions in India. In 2023 alone, the company supplied 44.5 million albendazole tablets towards this cause. With a cumulative distribution of nearly 3.96 billion tablets to date, your company remains steadfast in its commitment to providing support for as long as LF is eradicated in India. GSK Scholars: Empowering Tomorrow’s Healthcare Leaders As a responsible corporate citizen, your company has launched ‘GSK Scholars,’ a flagship community initiative aimed at empowering meritorious yet financially disadvantaged students to pursue medicine in government medical colleges. This programme provides financial assistance over a four-and-a-half-year period, covering academic expenses for the MBBS programme. Through this initiative, GSK Scholars benefits approximately 400 deserving scholars annually. ESG Initiatives: Nurturing Communities and Preserving Resources Your company is also committed to environmental, social, and governance (ESG) initiatives that positively impact local communities. Collaborating with local organisations, your company focuses on water basin replenishment and access projects. Partnering with the Watershed Organisation Trust (WOTR), your company endeavours to reduce water volume depletion in the Nashik watershed while enhancing the well-being of local families through improved health and education opportunities. Furthermore, your company is also a founding partner of the Women + Water Collaborative in India, a pioneering effort in collaboration with the Water Resilience Coalition. By harnessing women’s leadership, this initiative aims to improve access to clean water and sanitation, thereby supporting the health and vitality of local communities. In closing, I extend my heartfelt gratitude to your company’s exceptional employees, partners, and stakeholders for their unwavering support and dedication. It is through their collective efforts that we stand poised to achieve new milestones and create lasting impact in the lives of those we serve. Together, we are shaping a future where healthcare reaches new heights of excellence. Underpinned by 100 years of stakeholder trust, your company is ever more committed to positively impact patient’s lives and work for the wellbeing of humanity through science and innovation, Renu Sud Karnad Chairperson GlaxoSmithKline Pharmaceuticals Limited 4