Pharma giant GlaxoSmithKline (GSK) is reviewing its global media account.
The account is currently held with Omnicom’s PHD and WPP’s Mediacom.
According to Ad Age, GSK spent roughly $US1.7 billion on advertising in 2017.
PHD and Mediacom won the account in 2015, two years after GSK consolidated its media account with GroupM, though keeping on PHD as its lead media agency in the US.
Speaking on GSK’s position in the market, R3 Principal Greg Paull said, “GSK’s stock has been in decline since June last year, forcing a lot of pressure on the business and on suppliers.”
“Cost commitments will no doubt form a critical part of this review.”