GLAXO PHARMA Chairmans Speech

Dear Shareholders,

In 2017, your Company completed 93 years of serving patients in India.

As we steadily approach our centenary year, it is clear that our commitment to serve patients in India is strong and unwavering. The future of the healthcare landscape, as I see it, will be driven by increased access for the next billion with heightened disease awareness and solutions to meet specific healthcare needs of the country. Your Company is laying a strong foundation to build a legacy for the future.

GSK is committed to meeting the unmet and under-served healthcare needs of India through leadership in affordable pricing and the highest level of compliance standards in the industry. We will focus on securing reliable supply of our high-quality medicines to patients through our manufacturing facility in Nashik, Maharashtra and our upcoming facility in Vemgal, Karnataka.

Some of the highlights for the year 2016-17 were (i) the re-launch of our power brand, Neosporin, (ii) our foray into the probiotic segment with the launch of Entero Plus and (iii) the launch of Priorix Tetra, our combination MMRV (Measles, Mumps, Rubella and Varicella) vaccine.

We will continue to bring the best of our innovative global pipeline in areas like Respiratory and Vaccines to our patients in India. GSK has taken a leadership role in rolling out our globally designed new commercial model that is making a positive impact on our stakeholders in India.

We conducted a GSK Values Assurance Review this year and made significant progress; our employee engagement score is among the highest across GSK''''s worldwide operations. We have also recently been commended for Human Resources Excellence by the Confederation of Indian Industry.

Beyond our focus on our customers and employees, we are proud to contribute to the society in which we live. We were recognized by eminent industry associations for our Corporate Social Responsibility initiatives. Our signature initiative towards eliminating Lymphatic Filariasis in India continues with 51 million albendazole tablets donated during the year.

Last but not the least, our reputation is critical to our sustainability. We are happy to inform you that we have been recognized with prestigious external awards, in addition to awards won within the organization (competing with the rest of GSK''''s global operations).

Our focus will continue to be on delivering results on our promise of unwavering commitment to our shareholders. We will reciprocate the trust placed in us by creating long-term value for your investment.

A. Vaidheesh

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