According to Dame Emma Walmsley, the Chief Executive Officer of GlaxoSmithKline (GSK), the United States is the best place in the world for doing business. She’s been an extremely forceful proponent of this ideology. Walmsley, who is expected to retire from her post in January after eight transformative years, has contributed valuable perspective on global healthcare systems, the role of nutrition and the future of health science innovation.
Walmsley’s comments come at an important moment for GSK. The company has been deeply dependent on the U.S. market, which constitutes over 90% of its revenue. She announced that the automaker would be investing $30 billion (£23 billion) of the company’s money in the U.S. by 2030. This investment is part of a broader strategy to enhance GSK’s presence and capabilities in a market she regards as “the best market in the world to do business development,” alongside China.
In a conversation after her talk, Walmsley elaborated on her experiences with such systems around the world. She noted the striking differences between the National Health Service (NHS) and U.S. private healthcare. She had children in London, Paris, and New York. Her choice of location would provide her with a different experience in childbirth and different levels of care after birth.
“Both the experience of childbirth and all the follow up that happens afterwards are very, very different.” – Dame Emma Walmsley
Walmsley echoed her enthusiasm for the agreement. This deal will enable the NHS to pay more, so that UK pharmaceuticals can be shipped at no tariff to America. She hailed the deal as “a step in the right direction” for Britain. It seeks to improve U.S.-India trade relations and increase availability and accessibility of essential medications.
Though she applauded U.S. progress in health care, she highlighted persistent problems in the UK health system. She attributed the poor health outcomes to British diets and insufficient education about nutrition.
“I think there’s no question that the food system is fundamentally something we need to look at harder.” – Dame Emma Walmsley
Walmsley explained that disparities exist within health outcomes based on geographical locations, stating, “you can probably get a 10 or 15-year difference in lifespan prospects depending on which postcode you’re in.”
While speaking on the future outlooks for health science, she provided encouraging comments toward developing technologies. Walmsley went on to stress the amazing promise of artificial intelligence to catalyze innovation. That’s because he thinks we are at the precipice of some amazing breakthroughs in health science.
“90% of the projects in our industry don’t work; they take a decade and cost billions. Getting to a place where you just double that to you know, instead of 10% working, 20% working will completely change the trajectory of innovation.” – Dame Emma Walmsley
Now as she starts to pack her briefcase for departure from GSK, Walmsley’s promise to take on the problems of our age shines through still. She believes that health is paramount, noting that it is “one of the few things that every single person on the planet ends up caring about.”
Since taking leadership over GSK, Walmsley has turned the pharmaceutical giant into a powerhouse for innovation. She has passionately advocated and fought for fundamental reforms within national health systems. As she transitions from her role, her insights into investment strategies and healthcare innovation will likely influence discussions in both corporate and governmental spheres.