News

Published: May 18, 2024
Updated: May 18, 2024

GSK Pharma Q4 Results: Profit Surges by 45% Driven by NLEM Drugs and Vaccines

Impressive Q4 Performance:

GlaxoSmithKline (GSK) Pharmaceuticals reported a remarkable 45.7% increase in consolidated net profit for the fourth quarter of FY24, reaching Rs 194.48 crore. The company's revenue from operations also saw a significant rise of 18%, totaling Rs 929.8 crore for the quarter.

Dividend Announcement:

The board of directors has recommended a dividend of Rs 32 per equity share, with a face value of Rs 10 each, for the fiscal year ending March 31, 2024. This recommendation is subject to approval at the 99th Annual General Meeting.

Annual Financial Overview:

For the full fiscal year, GSK Pharma's revenue increased by 6% to Rs 3,453 crore, although net profit decreased by 3.4%. The revenue growth was primarily driven by a strong volume recovery, which helped offset the impact of the National List of Essential Medicines (NLEM).

Segment-Wise Growth:

Bhushan Akshikar, Managing Director of GlaxoSmithKline Pharmaceuticals, highlighted the company's strong performance across its various portfolios. The General Medicines portfolio, which includes key brands such as Augmentin, Ceftum, and Calpol, recorded a robust double-digit growth of 12% in Q4. Despite previous quarters' NLEM impact, all promoted brands outperformed their respective categories and gained market share.

Specialty and Vaccines Portfolio:

The Specialty portfolio, led by drugs like Nucala and Trelegy, showed accelerated momentum with the highest patient recruitment in Q4. Additionally, the vaccines segment experienced a steady upswing over the last two quarters in both adult and pediatric markets, delivering a substantial 35% growth in Q4. The recent launch of Shingrix (Zoster Vaccine Recombinant, Adjuvanted) has bolstered the vaccines business, particularly in the adult immunization category, supported by innovative market strategies.

Strong Outlook Ahead:

GSK Pharmaceuticals' strong Q4 performance, marked by significant growth in net profit and revenue, underscores the effectiveness of its strategic focus on key brands and innovative market approaches. The continued momentum in both the General Medicines and Vaccines portfolios, coupled with the strategic launch of new products, positions GSK Pharma for sustained growth in the coming years.