GlaxoSmithKline Pharmaceuticals profit grows by 16%

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GlaxoSmithKline Pharmaceuticals Limited has announced its financial results for the first quarter ended 31st March 2011. Profit after tax but before Exceptional Item grew by 16%. While the overall sales grew by 11.4%, net sales of the pharmaceuticals business grew by 12.4%.

Commenting on the performance during the quarter, Dr. Hasit B. Joshipura, Managing Director, said, “All of the Company’s major business segments have registered good growth. In particular, Vaccines and the Mass Speciality business have registered strong double digit growth. The quarter saw the launch of two new products, one branded generic Calpol-T in the fast growing pain segment and Ansolar (Sunscreen Gel) a product from the Stiefel Dermatology range”.

Marketing approvals were also received for two innovative products i.e., Votrient for renal carcinoma and Revolade for platelet depletion. The Company expects to launch these products in the ensuing quarter. Selling resources were strengthened by an addition of 550 numbers during the quarter.

 

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