Pharmaceutical giant GlaxoSmithKline (GSK) is reviewing its global media agency roster, which is thought to be worth about $1 billion.
GroupM's Maxus handles the media account in Australia and it's thought to be worth $27.5 million locally.
A spokesman from GSK told AdNews: "GSK Consumer Healthcare is conducting a review of its current media planning agencies globally following the completion of a joint venture with Novartis."
The roster shake-up is off the back of GSK's recent transaction with Novartis - which includes the acquisition of Novartis’s vaccines business, the creation of a consumer healthcare joint venture between GSK and Novartis and the divestment to Novartis of some of GSK’s aspects.
With such a big move and change in structure, it's essential GSK's advertising reflects the newly formed partnership and its message is clear across advertising.
The Novartis transaction was cleared by the European Commission in January and afterwards, GSK CEO Sir Andrew Witty said the completion of this transaction represented a “major step forward in the Group’s strategy to create a stronger and more balanced set of businesses across pharmaceuticals, consumer healthcare and vaccines."
Back in March GSK, which is responsible for brands such as Nicabate, Panadol, Macleans and Sensodyne, also reviewed its creative agency roster – appointing independent agency The Works to manage digital strategy, creative, social and content for Panadol. IPG agency Ensemble and Soap were also appointed.
According to UK trade press site The Drum, Starcom, PHD and GroupM, all of which have worked with the business in the past, are involved in the final stages of the review.
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