GlaxoSmithKline establishes a new strategy to potentially increase sales in emerging international markets. Andrew Witty, the future CEO of Glaxo as of May 22nd, plans to develop a new marketing team that will provide assistance in creating new marketing strategies. Such marketing strategies would be employed in upcoming international markets, including Brazil, Russia, India, China, and the Middle East.
In order to gain market share, it appears essential for Glaxo to penetrate these new markets. These markets do represent roughly 25% of today's pharmaceutical market growth and are predicted to grow at an even raster rate in the future. Emerging markets present great opportunities for a powerhouse such as Glaxo, the second largest pharmaceutical company in the world, just under the market leader, Pfizer.
Witty seems prepared to attach these developing markets with creative and novel tactics of corporate operations. Making structural adjustments may prove beneficial for Glaxo in the future. With an increasing demand for innovative medicines and health care products, Glaxo exhibits potential to dominate these fresh markets.
[Whalen, Jeanne. "Glaxo's New Chief Shuffles Ranks." The Wall Street Journal. 1 May 2008: B10.]