GSK calls global pitch; India account worth Rs 450 crore
GlaxoSmithKline begins the process of reviewing its global media planning and buying business. In India, the account is managed by WPP’s leading agency Mindshare India.
International pharmaceutical conglomerate GlaxoSmithKline or GSK has begun the process of reviewing its global media planning and buying business. In India, the account size is believed to be close to Rs 450 crore.
Several leading media agencies exchange4media reached out to confirmed the development on the condition of anonymity. GSK’s communication department, however, did not revert to the mail sent by us. As per international media reports, a company representative has confirmed the review to Adweek. The representative did not provide additional information.
International reports claim that ID Comms is managing the process for the company. Reports further claim that all six major media agency networks (WPP, Omnicom, Publicis, Dentsu, Havas and IPG) have been invited to pitch. As of now, the account in India is with WPP’s leading agency Mindshare India.
As per sources, GSK spends approximately $1 billion in paid media in the US every year, and various estimates list its global media budget at more than twice this total. The London-based company has seen sales drop in the recent quarters, and last year, it announced plans to sell off some 130 “non-core” brands amid a larger round of staffing reductions around the world.
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