This paper contains a case study of how SmithKline Beecham (SB), an Angle-American pharmaceutical company, has gone about bloodstreaming its 'integrity' value in the context of its overall development of a value-driven corporate culture. SB was formed as a result of a 'merger of equals' in 1989 and has developed and implemented a new set of values since then, We provide an analysis of the success of SB's development of an integrity value and suggest lessons for other companies from the process. (C) 1999 Published by Elsevier Science Ltd, Ail rights reserved.