GSK Pharmaceuticals’ revenue grows at seven per cent in Q1

GlaxoSmithKline Pharmaceuticals has declared its financial results for the quarter ended 30th June 2019. Revenue for the quarter came in at Rs 788 crores, an increase of seven per cent over the same period last year. Profit After Tax at Rs 113 crores recorded a growth of 28 per cent over the same quarter in 2018.

Commenting on the results, A Vaidheesh, Managing Director, GlaxoSmithKline Pharmaceuticals said, "It has been an year since we launched our new commercial operating model, investing resources in focus products to drive growth. Identified key therapies were also supported by investment in incremental addition to the sales force, which expanded our reach by over 30 per cent. The early results have been encouraging. Our promoted brands show high double-digit growth for the quarter as expected, supported by strong in-market performance growing significantly faster than market. We continue to see the annualising effect of discontinued tail-end brands. Adjusting for this, our underlying sales growth is 12 per cent, supported by strong volume growth of eight per cent.

We continue to drive improved operational efficiencies reflecting in a two percentage point increase in our EBITDA margin to 21 per cent, as against the same period last year."

By EP News Bureau

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