COVID-19 Impact on GlaxoSmithKline
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COVID-19 Impact on GlaxoSmithKline July 13th, 2020 based on market analysis and brand diversification by industry and geography
Though the novel Coronavirus outbreak will impact all businesses, GSK's consumer health product portfolio structure and presence across the world will cushion its brand sales from the shockwaves of the pandemic. To a large extent, the company's fortunes rest on the performance of its OTC Healthcare business, which has a strong product portfolio and pipeline. The development of preventatives, therapeutics, and vaccines for COVID-19 can be a game changer for GSK. The company's contribution towards the fight against the COVID-19 pandemic will boost its goodwill.
Scope
– Geographic diversification and product portfolio will shield GlaxoSmithKline against the impact of the pandemic on its consumer health brands sales
– GSK needs to form defensive strategies against the effects on its consumer health brand sales during the pandemic, even though diversification in OTC healthcare may help
– Cosmetics and toiletries and OTC healthcare make up the core business of GSK
– As a result of being skewed towards a single sector – oral hygiene – GSK's cosmetic and toiletries business is expected to take a major hit due to the pandemic
– Diversification in GSK's OTC healthcare business means that it might weather the COVID-19 storm
– GSK is taking various measures through many collaborations to fight the pandemic
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