GSK Pharma faces net loss in Q1

BioSpectrum (India) - - FINANCE NEWS -

Glax­oSmithK­line Phar­ma­ceu­ti­cals (GSK) has re­ceived ma­jor set­back dur­ing the first quar­ter ended June 2017 and its net profit de­clined sharply by 63.4 per cent due to de-stock­ing and price re­duc­tion of sev­eral prod­ucts. Its net sales also de­clined by 14.4 per cent to Rs 587 crore from Rs 685 crore. The pri­mary sales re­duced by an ap­prox­i­mate Rs 130 crore or equiv­a­lent to 2 weeks of sales that con­tributed to a de­cline of 20 per cent partly off­set by an in­crease in value growth of 6 per cent. The com­pany ex­pects the trade chan­nels to nor­malise in fu­ture months. The com­pany is plan­ning to launch new prod­ucts from its global res­pi­ra­tory and vac­cines pipe­line and re­view­ing these for a pos­si­ble launch for its In­dian pa­tients. Around 30 per cent of global phar­ma­ceu­ti­cal vol­umes sold by GSK plc., is mar­keted in In­dia. Its 15 brands are in top 300 rank­ing as per IPM. The com­pany has in­vested Rs 115 crore to con­struct a fa­cil­ity for the man­u­fac­ture of El­troxin, where the medicine is man­u­fac­tured in a res­pi­ra­tory-free en­vi­ron­ment. The new El­troxin fa­cil­ity will be fully op­er­a­tional in 2018. GSK is also plan­ning to up­grade the der­ma­to­log­i­cals and tablets fa­cil­i­ties by in­vest­ing in in­fra­struc­ture.

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