Recipients of Porter Prize on Creating Shared Value
ITC is one of India’s foremost multi-business enterprise with a market capitalisation of US $ 45 billion and a turnover of US $ 8 billion. ITC is rated among the World’s Best Big Companies, Asia’s ‘Fab 50’ and the World’s Most Reputable Companies by Forbes magazine and as ‘India’s Most Admired Company’ in a survey conducted by Fortune India magazine and Hay Group. ITC also features as one of world’s largest sustainable value creator in the consumer goods industry in a study by the Boston Consulting Group. ITC has been listed among India’s Most Valuable Companies by Business Today magazine. The Company is among India’s ’10 Most Valuable (Company) Brands’, according to a study conducted by Brand Finance and published by the Economic Times. ITC also ranks among Asia’s 50 best performing companies compiled by Business Week.
GSK is a science-led global healthcare company – with three world-leading businesses – that researches, develops and manufactures innovative pharmaceutical medicines, vaccines and consumer healthcare products. We have a significant global presence with commercial operations in more than 150 countries, a network of 87 manufacturing sites, and large R&D centres in the UK, USA, Belgium and China.
Our Pharmaceuticals business discovers, develops and makes medicines to treat a broad range of the world’s most common acute and chronic diseases. The business generated sales of £16.1 billion in 2016, representing 58% of the total turnover of the Group. The business is made up of innovative and established medicines and holds leading positions in respiratory disease and HIV. Our Pharmaceuticals R&D organisation drives the discovery and development in several core areas of research: respiratory, HIV and infectious diseases, oncology, immuno-inflammation, respiratory and rare diseases.
Our Vaccines business has the broadest portfolio of any company, with vaccines for people of all ages. We deliver over two million vaccine doses per day to people across over 160 countries.
Our Vaccines business has a portfolio of 41 paediatric, adolescent, adult, other people and travel vaccines that offer protection against 22 different diseases. We have a pipeline of 14 candidate vaccines in early, mid and late stage development against a range of diseases. Our pipeline of potential new vaccines covers many of the diseases still having a serious impact around the world, including malaria, HIV, TB and Ebola. In 2016, the business contributed £4.6 billion (16%) to the overall turnover of the Group.
Our Consumer Healthcare business develops and markets products in Wellness, Oral health, Nutrition and Skin health. It has a portfolio of some of the world’s most trusted and best selling brands which includes Sensodyne, Voltaren, Horlicks and Panadol. We are one of the world’s leading over-the-counter Wellness medicines company. We hold number one positions in Wellness across 36 markets, and are market leaders in specialist oral care. We have a portfolio of loved and trusted brands that are underpinned by science including: Sensodyne, Parodontax, Poligrip, Voltaren, Panadol, Otrivin and Theraflu. In 2016, the Consumer Healthcare business accounted for £5 billion, or 26%, of total Group turnover.
Godrej Consumer Products Ltd.
Godrej Consumers Products, headquartered in Mumbai is a leading FMCG company present across emerging markets. Set up in 2001, Godrej has attained leading market position in insecticides, hair colours and liquid detergents in India. The company enjoys a patronage of 1.1 billion consumers spread across Asia, Africa & Latin America. It is driven by a 3×3 strategy which focuses on three business categories (personal care, hair care and home care) across three geographies (Asia, Africa and Latin America).
Porter Prize for Creating Shared Value was awarded to the company for their introduction of affordable household insecticides in semi-urban and rural areas. Commenting on the achievement, Sunil Kataria, Business Head, India & SAARC, Godrej Consumer Products Limited said “We are proud of 2 things– shared value and innovation. It is heartening to see that what we have done in innovation which has led to shared value impact and award.”
Abbott India is considered to be one of the fastest growing pharmaceutical companies in India. Setup in 1944, it is a subsidiary of Abbott’s Laboratories. The company provides consumers with a diverse range of diagnostics solutions, medical devices, nutritional products and established pharmaceuticals that span the continuum of care. They have over 400 branded generic pharmaceuticals in 90% of therapy areas at 5 million pharmacies nationwide.
On receiving the award, Bhasker Iyer, CEO, Abbott India Limited said, “We at Abbott are extremely proud of Shared Value Initiative. We are convinced that this will benefit all our stakeholders. We are extremely honored.”