Tuesday, 4 July 2017

Should The Government Of Ghana Close Down Worldwide Health Limited - And Deport All Its Expatriate Staff?

Is the Indian-owned locally registered company, Worldwide Health Limited (WHL),  attempting to sabotage the businesses of its Ghanaian competitors, as some in the pharmaceutical sector claim?

Critics of WHL accuse it  of sabotaging the businesses  of its Ghanaian competitors to enable it end up  having a stranglehold on the market for medical drugs manufactured by the multinational pharmaceutical company, GlaxoSmithKline Plc (GSK), in Ghana.

Whatever be the case, the reality is that at the end of the day, no matter what the motives of the Indian owners of Worldwide Health Limited actually are, the outcome of their dealings with GlaxoSmithKline Export Limited - the privately-owned UK wholesaler of the pharmaceutical products of the listed London Stock Exchange (LSE) quoted manufacturer of pharmaceutical products, GloxoSmithKline Plc - is that it will have a stranglehold on the market in Ghana for medical drugs produced by GlaxoSmithKline Plc.

That is intolerable and unacceptable in this day and age. In effect, the Indian  owners of Worldwide Health Limited, are abusing our hospitality - and that is unpardonable and monstrous.

For that reason, their trojan-horse-business must be closed down immediately by the government for attempting to make Ghana dependent on foreigners for the supply of a range of pharmaceutical products either manufactured locally under license, or manufactured overseas in the UK, and elsewhere, by the multinational company GlaxoSmithKline Plc.

We have culled and posted below,  the UK  Companies House details of that privately-owned GlaxoSmithKline Export Limited, and the London Stock Exchange  (LSE) details of the multinational drugs manufacturer, GlaxoSmithKline Plc, respectively.

In this blog's humble view there is only one way to resolve this logic-defying attempt at holding our nation's healthcare system to ransom.

The work and residence permits of all the expatriates working in Ghana for GSK Ghana and that cheeky Indian company, Worldwide Healthcare  Limited, must be immediately revoked on national security grounds: and all of them deported to their home countries within 72 hours.

It is obvious that Worlwide Health Limited  has  worked closely with GSK Ghana Limited to create an opportunity to enable WHL  eventually import GSK drugs form India and elsewhere  into Ghana as a monopoly business - as part of a grand WHL strategy to dominate emerging markets in sub-Saharan Africa.

No Ghanaian company will ever be allowed to behave in such a disrespectful and unethical manner in India  - without its Ghanaian executives being swiftly deported from India: the moment that Ghanaian company's Indian competitors notified the authorities there.

This is a stealth pre-emptive strike by Worldwide Health Limited to make Ghana dependent on Indian and other foreign drug manufacturers. It is an abominable and unpardonable outrage - and unspeakable. The government of Ghana must act quickly in this matter - and throw all the expatriates working for GSK Ghana and Worldwide Health Limited out of the country.  Enough is enough. Haaba.

This  move by GSK Ghana and Worldwide Health Limited amounts to waging economic warfare on Ghana no less - and  the Ghanaian media must not sit unconcerned and allow greedy and arrogant individuals (who might even be closet foreign racists for all we know) to toy with our sovereignty and our nation's security so brazenly.

For the benefit of this blog's  readers, below are the culled UK Companies House details of the privately-owned  wholesaler, GlaxoSmithKline Export Limited - and those of the LSE quoted  multinational drugs manufacturer GlaxoSmithKline Plc.

1) GLAXOSMITHKLINE EXPORT LIMITED

Company number 02433585
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    Company Overview for GLAXOSMITHKLINE EXPORT LIMITED (02433585)
    Filing history for GLAXOSMITHKLINE EXPORT LIMITED (02433585)
    People for GLAXOSMITHKLINE EXPORT LIMITED (02433585)

Registered office address
    980 Great West Road, Brentford, Middlesex, TW8 9GS

Company status
    Active

Company type
    Private limited Company

Incorporated on
    18 October 1989

Accounts

Next accounts made up to 31 December 2016
due by 30 September 2017

Last accounts made up to 31 December 2015
Confirmation statement

Next statement date 10 September 2017
due by 24 September 2017

Last statement dated 10 September 2016
Nature of business (SIC)

    46460 - Wholesale of pharmaceutical goods

Previous company names
Previous company names
Name     Period
GLAXO WELLCOME EXPORT LIMITED     01 Jul 1995 - 20 Dec 2001
GLAXO EXPORT LIMITED     01 Dec 1989 - 01 Jul 1995
STRONGHOT LIMITED     18 Oct 1989 - 01 Dec 1989.


2) The London Stock Exchange details of the multinational pharmaceutical drugs manufacturer, GlaxoSmithKline Plc:

 London Stock Exchange Home Page
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    Home page    Prices & markets Stocks GLAXOSMITHKLINE

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GSK GLAXOSMITHKLINE PLC ORD 25P

Currently, only order book trades are included in the summary statistics, last 5 trades and Prices and Trade tabs, for technical reasons related to a third party data vendor. We are working with the vendor to include off order book trades as soon as possible.

In the meantime, a file of intra-day off order book trades, data delayed by at least 15 minutes, is now available. The file will be refreshed every 30 minutes. Please find further information on the data contained in the file. The use of this file is according to our standard terms & conditions. For further information please contact lse-website@lseg.com

Price (GBX)     1,632.50     Var % (+/-)     +0.15% (Up +2.50)
High     1,632.50     Low     1,621.00
Volume     1,324,775     Last close     1,630.00 on 03-Jul-2017
Bid     1,632.00     Offer     1,632.50
Trading status     Regular Trading     Special conditions     XD
As at 04-Jul-2017 13:11:44 -  All data delayed by at least 15 minutes.

Regulatory News - RNS

    Total Voting Rights 03 Jul 2017
    GSK announces US filing for mepo in EGPA 28 Jun 2017
    GSK starts phIII study on mepo for nasal polyps 27 Jun 2017
    Director/PDMR Shareholding 21 Jun 2017
    GSK presents Shingrix PhIII study results at ACIP 21 Jun 2017


Newsfeed - Alliance News

GlaxoSmithKline Submits FDA Application For Mepolizumab  28 Jun 2017 16:26

GlaxoSmithKline Begins Phase III Study Of Mepolizumab In Nasal Polyps  27 Jun 2017 10:17

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LONDON MARKET MIDDAY: Stocks Fall As Oil Firms Suffer Weak Brent Crude  22 Jun 2017 12:00

WINNERS & LOSERS SUMMARY: Imagination Technologies Rises Amid Sale  22 Jun 2017 10:40


Last 5 trades
Time/Date     Price     Volume     Trade value     Type
13:11:16     1,632.50     236     3,852.70     AT
13:11:16     1,632.50     411     6,709.58     AT
13:11:16     1,632.50     63     1,028.48     AT
13:10:56     1,632.50     449     7,329.92     AT
13:10:52     1,632.50     6     97.95     AT


Fundamentals
Content provided by Morningstar
Profit For The Period ( £  m )
Continuing and Discontinued EPS - Adjusted ( p )
Dividend per Share ( p )
Key Fundamentals     31-Dec-12     31-Dec-13     31-Dec-14     31-Dec-15     31-Dec-16
Revenue (£ m)       26431.00     26505.00     23006.00     23923.00     27889.00
Pre-Tax (£ m)       6600.00     6647.00     2968.00     10526.00     1939.00
EPS      111.40p     108.40p     95.40p     75.70p     102.40p
PE      11.98     14.87     14.42     18.14     15.25
PEG      1.84     -5.53     -1.20     -0.88     0.43
EPS Growth      6.50%     -2.69%     -11.99%     -20.65%     35.27%
Dividend Cover      1.55     1.43     1.19     0.95     1.28
Dividend Yield      5.39%     4.72%     5.81%     5.83%     5.12%


End of culled content from the respective Companies House and  London  Stock Exchange websites.


   


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