We are a responsible company and commit to use our science and technology to address health needs, make our products affordable and available, and be a modern employer. Our ability to launch new products successfully and grow sales from our existing portfolio is key to our commercial success.
Performance is delivered by investing effectively in our business and our people and executing competitively. As a research-based healthcare company we rely on intellectual property protection to help ensure a reasonable return on our investments so we can continue to research and develop new and innovative medicines. In Consumer Healthcare we leverage our scientific expertise and deep consumer insights to create healthcare products that meet consumer demands. In Pharmaceuticals and Vaccines, we focus on science related to the immune system, human genetics and advanced technology. On a pro-forma basis, Adjusted R&D expenditure grew 6% CER compared with 2019. On an Adjusted basis, R&D expenditure was £4.6 billion (13.5% of turnover), 6% higher at AER, 7% higher at CER, than in 2019. In 2020 Total R&D expenditure was £5.1 billion, which was 15.0% of turnover, and an increase of 12% (AER and CER) from the previous year. Innovation is critical to how we improve health and create financial value. Our priorities of Innovation, Performance and Trust are underpinned by our ambition to build a more purpose and performance driven culture, aligned to our values – patient focus, transparency, respect and integrity – and expectations – courage, accountability, development and teamwork. It guides all of our actions and is key to the delivery of our strategy – to bring differentiated, high-quality and needed healthcare products to as many people as possible, preventing and treating disease and keeping people well with our scientific and technical know-how and talented people. Our purpose is to improve the quality of human life by helping people do more, feel better and live longer. We also collaborate with world-leading experts and form strategic partnerships to complement our existing capabilities. We remained resilient through a challenging year for the world by being agile and maintaining focus on our purpose and strategic long-term priorities.Ĭentral to our success are our people: experts in science, technology, regulation, intellectual property and commercialisation. Our operations span the value chain from identifying, researching, developing and testing ground-breaking discoveries, to regulatory approval, manufacturing and commercialisation. Content is provided for the markets’ home audience and may not align with UK regulations.Įvery day, we help improve the health of millions of people around the world by discovering, developing and manufacturing innovative medicines, vaccines and consumer healthcare products. The subsequent websites and web pages are intended for non-UK audiences. You are currently visiting our global website.
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