GLAXOSMITHKLINE RESEARCH DEVELOPMENT LIMITED
Company Information
- Company Number
- 00835139
- Registered Address
- 980 Great West Road, Brentford, Middlesex, TW8 9GS
- Status
- Active
- Employee Count
- 3245.0
- Turnover
- 1428563000.0
- EBITDA
- 194417000.0
Additional Details
- Website
- https://gsk.com
- Company Type
- Private limited Company
- Incorporated On
- 22 January 1965
- Nature of Business
- 72190 - Other research and experimental development on natural sciences and engineering
- Industries
- 0
- Region
- London
Company Location
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Financial Metrics
Time to Pay
Payment Timeline
Payment Features
Payment Time Trends
Payment Distribution Trends
Performance Reports History
| Reporting Period | Filing Date | Average Time to Pay (days) | Paid within 30 days | Paid 31-60 days | Paid after 60 days | Not Paid within Terms |
|---|---|---|---|---|---|---|
| 01 Jul 2023 - 31 Dec 2023 | 30 Jan 2024 | 68 | 17% | 9% | 74% | 3% |
| 01 Jan 2023 - 30 Jun 2023 | 27 Jul 2023 | 71 | 15% | 9% | 76% | 4% |
| 01 Jul 2022 - 31 Dec 2022 | 27 Jan 2023 | 73 | 11% | 9% | 80% | 3% |
| 01 Jan 2022 - 30 Jun 2022 | 28 Jul 2022 | 73 | 10% | 9% | 81% | 4% |
| 01 Jul 2021 - 31 Dec 2021 | 28 Jan 2022 | 71 | 15% | 11% | 74% | 5% |
| 01 Jan 2021 - 30 Jun 2021 | 29 Jul 2021 | 70 | 13% | 11% | 76% | 4% |
| 01 Jul 2020 - 31 Dec 2020 | 28 Jan 2021 | 65 | 21% | 10% | 69% | 7% |
| 01 Jan 2020 - 30 Jun 2020 | 30 Jul 2020 | 69 | 14% | 11% | 75% | 4% |
| 01 Jul 2019 - 31 Dec 2019 | 29 Jan 2020 | 67 | 15% | 14% | 71% | 5% |
| 01 Jan 2019 - 30 Jun 2019 | 30 Jul 2019 | 70 | 11% | 14% | 75% | 4% |
| 01 Jul 2018 - 31 Dec 2018 | 31 Jan 2019 | 73 | 9% | 10% | 81% | 6% |
| 01 Jan 2018 - 30 Jun 2018 | 30 Jul 2018 | 76 | 5% | 7% | 88% | 13% |
Company Summary
GLAXOSMITHKLINE RESEARCH & DEVELOPMENT LIMITED is a global pharmaceutical company that focuses on researching and developing innovative medicines, vaccines, and consumer healthcare products
Their mission is to improve the quality of human life by enabling people to do more, feel better, and live longer
The company has a strong commitment to sustainability and has set ambitious goals to reduce their environmental impact, including reducing carbon emissions and water consumption
They also have programs in place to promote ethical and responsible business practices, such as their Supplier Code of Conduct
GLAXOSMITHKLINE offers a wide range of products and services, including prescription medicines, over-the-counter medicines, and vaccines
Some notable products include Advair, a treatment for asthma and COPD, and Panadol, a pain reliever
They also have a strong presence in the consumer healthcare market with brands such as Sensodyne, Aquafresh, and Nicorette
One of the key people at GLAXOSMITHKLINE is the CEO, Emma Walmsley, who has been leading the company since 2017
She is committed to driving innovation and growth while maintaining a strong focus on sustainability
The company's registered office address is 980 Great West Road, Brentford, Middlesex, TW8 9GS, United Kingdom
Their website address is www.gsk.com where one can find more information about their products, sustainability initiatives, and contact information
This includes their customer service number for any inquiries or concerns
In summary, GLAXOSMITHKLINE RESEARCH & DEVELOPMENT LIMITED is a leading global pharmaceutical company with a strong commitment to sustainability
They offer a wide range of products and services and are led by a dedicated CEO
Their registered office is in Brentford, UK and their website provides information and contact details for customers
Company Review
Trend Analysis
The average time taken for GLAXOSMITHKLINE RESEARCH & DEVELOPMENT LIMITED to pay invoices has decreased from 76 days in Jan 2018 to 68 days in Dec 2023, showing a positive trend towards faster payments. This can also be seen in the percentage of invoices paid within 30 days, which has increased from 5% to 17% in the same time period.
Volatility Analysis
The volatility in the company's payment practices can be seen in the fluctuation of the percentage of invoices paid within 30 days, which ranges from 5% to 21%. This shows that the company's payment behavior is not consistent and can have a significant impact on their suppliers.
Summary Analysis
In the past three periods, there has been a steady decline in the average time taken for GLAXOSMITHKLINE RESEARCH & DEVELOPMENT LIMITED to pay invoices. The company has also shown improvement in paying invoices within the agreed terms, with the percentage of invoices paid later than 60 days decreasing from 88% to 74%. The best period for the company was in Jul-Dec 2022, where they paid 21% of their invoices within 30 days. However, the worst period was in Jan-Jun 2018, where 88% of their invoices were paid later than 60 days.
Invoice Payment Practices
This information is as reported by the business, and responses are in their own words.
Payment Terms
Standard payment terms
Qualifying contracts for this entity contain a number of different payment periods: Immediate 30 days 60 days 45 days 30 days and 5th of the following month 60 days and 5th of the following month Payments are made from date of receipt of invoice.
Were there any changes to the standard payment terms in the reporting period?
Yes – Standard 30-day terms for SMEs were introduced in place of a previous offer of 30 day terms upon application by the vendor.
Any other information about payment terms
1) Statistics Reported: Intercompany invoices and performance have been excluded from reported statistics as these are generally wholly owned group companies and would distort performance if included. 2) Payment terms for SMEs and 'Paid on Time' monitoring: Preferential payment terms of 30 days are put in place for vendors that are confirmed as SMEs (Small and Medium Enterprises). We closely monitor our KPIs on a weekly basis to ensure that vendors (including SMEs) are paid on time. Corrective actions are taken to remedy any late payment issues where these are within the entity’s control.
Maximum contractual payment period agreed
60
Dispute Resolution Process
We offer our suppliers the following support and service: Enquiries and complaints can be logged through our Helpdesk support system (mail or telephone). Issues are often related to incorrect invoice submission, payment terms are not as per contract, PO details are wrong / nonexistent etc. Key performance metrics are monitored for quality of Helpdesk support. Our Supplier web pages also include details and a link to our Speak Up channels that enable concerns to be raised, including channels managed independently of GSK and the option to do so anonymously, although naturally it helps in resolving matters if we know as much as possible about the issue and complainant. We have invested in Customer Relationship Management (CRM) to ensure effective and independent supplier follow up and support to our suppliers raising issues.
Other Payment Information
Has this business signed up to a code of conduct or standards on payment practices?
For example, signatories to The Prompt Payment Code must commit to paying 95% of their invoices within 60 days.
❌
Does this business offer e-invoicing in relation to qualifying contracts?
This is where suppliers can electronically submit and track invoices. It's not just allowing suppliers to email them an invoice.
✅
Does this business offer supply chain finance?
This is where a supplier who has submitted an invoice can be paid by a third-party finance provider earlier than the agreed payment date. The business would then pay the finance provider the invoiced sum.
✅
Under its payment practices and policies, can this business deduct sums from payments under qualifying contracts as a charge for remaining on a supplier list?
❌
During the reporting period, did the business deduct sums from payments as a charge for remaining on a supplier list?
No information available
