BWI: GlaxoSmithKline Pharmaceuticals Net Sales up 15.4%, PAT before Exceptional Items grows 20.5% in Fourth Quarter of FY 2011

Press release from Business Wire India
Source: GlaxoSmithKline Pharmaceuticals Limited
Thursday, February 16, 2012 01:19 PM IST (07:49 AM GMT)
Editors: General: Consumer interest, Economy, People; Business: Banking & financial services, Business services, Financial Analyst, Healthcare, biotechnology & pharmaceutical, Stock exchanges; Healthcare
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GlaxoSmithKline Pharmaceuticals Net Sales up 15.4%, PAT before Exceptional Items grows 20.5% in Fourth Quarter of FY 2011


Mumbai, Maharashtra, India, Thursday, February 16, 2012 -- (Business Wire India) -- GlaxoSmithKline Pharmaceuticals Limited announced its financial results for the fourth quarter ended 31st December, 2011. The growth in Net Sales was 15.4% and Profit After Tax and before Exceptional Items was 20.5%. The core Pharmaceuticals business grew by 18.2% for the quarter.

For the year ended 31st December 2011, the growth in Net Sales was ¬10.7% and Profit After Tax and before Exceptional Items was 8.6% while the core Pharmaceuticals business grew by 12.5%.

The continued growth of specialty products and vaccines, new product launches and tight expense control helped improve profits. Despite material cost escalations and significant expansion of the field force, Profit before Investment Income and Tax amounted to 33% of Net Sales. The quarter saw the launch of Synflorix- a vaccine against invasive pneumococcal disease - the leading cause of childhood mortality in India.

In 2011, the Company also expanded its Oncology portfolio by launching Votrient, indicated for the treatment of advanced renal cell carcinoma (RCC) and RevoladeTM for the treatment of idiopathic thrombocytopenic purpura [(ITP) (reduced platelet count)]. Branded generics were launched in the metabolic and Steifel range of products.

Commenting on the performance, Dr. Hasit B. Joshipura, Managing Director, said, "Growth for the quarter was market competitive, driven by a revival in the anti-infective and mass markets segment. Our specialty business continued to register good growth aided by the launch of products from our global pipeline and branded generics. The vaccine business showed a high growth trajectory, with the Company continuing to expand its vaccine portfolio."

The Board recommended a dividend of Rs. 45 per Equity Share for the year (previous year: Rs. 40 per Equity Share). If approved by the shareholders at the Annual General Meeting, the Dividend will absorb Rs. 381 crores. The Dividend Distribution Tax borne by the Company will amount to Rs. 60 crores.

About GlaxoSmithKline:

GlaxoSmithKline Pharmaceuticals Limited is a subsidiary of GlaxoSmithKline plc, one of the world's leading research-based pharmaceutical and healthcare companies, committed to improving the quality of human life by enabling people to do more, feel better and live longer. For more information, visit www.gsk-india.com.

To view the results, please click on the links below:
Audited Financial Results 2011
Consolidated Audited Financial Results 2011
For picture(s)/data to illustrate this release click below:

http://www.BusinessWireIndia.com/attachments/Audited Financial Results 2011.pdf
Audited Financial Results 2011.pdf
http://www.BusinessWireIndia.com/attachments/Consolidated Audited Financial Results 2011.pdf
Consolidated Audited Financial Results 2011.pdf


CONTACT DETAILS
Sunder Rajan,General Manager, Corporate Communication, GlaxoSmithKline Pharmaceuticals Limited, +91 (22) 24959203, sunder.r.rajan@gsk.com

KEYWORDS
CONSUMER, ECONOMY, PEOPLE, BANKING, BUSINESS SERVICES, Financial Analyst, HEALTHCARE, STOCK EXCHANGES, HEALTHCARE

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