Smithkline Beecham was formed through a transatlantic merger in 1989 between two large pharmaceutical companies (Beechams and Smithkline). The partnership was one of the largest makers of pharmeceuticals in the world. In 2001 GlaxoSmithKline formed through the merger of Glaxo Wellcome and SmithKline Beecham. Just before this merger Smithkline Beecham had an annual turnover of over £8 billion.