Pharma major, GlaxoSmithKline Pharmaceuticals has 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 Revolade TM for the treatment of idiopathic thrombocytopenic purpura [(ITP) (reduced platelet count)]. Branded generics were launched in the metabolic and Steifel range of products. Incidentally, the Board has recommended a dividend of Rs. 45 per Equity Share for the year (previous year Rs. 40). If approved by the shareholders at the AGM, the Dividend will absorb Rs 381 crores. The Dividend Distribution Tax borne by the Company will amount to Rs. 60 crores.
“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.”
— Dr. Hasit B. Joshipura, Managing Director