GlaxoSmithKline Pharmaceuticals (GSK), a Rs.2,600 crore multinational pharma company, has posted satisfactory performance during the year ended December 2012 on account of lower exceptional items pertaining to rationalisation initiatives relating to a manufacturing site and actuarial loss on employees benefits. The Board has declared higher equity dividend of Rs.50 per share as against Rs.45 in the previous year. This will absorb Rs.424 crore.
The company's consolidated net sales for the year ended December 2012 improved by 10.2 per cent to Rs.2,621 crore from Rs.2,378 crore and its EBDITA improved by 5.7 per cent to Rs.1,000 crore from Rs.948 crore. However, GSK's net profit jumped by 31.1 per cent to Rs.562 crore from Rs.429 crore on account of above mentioned lower exceptional items. Exceptional loss declined to Rs.148 crore from Rs.323 crore in the previous year. Its EPS worked out to Rs.66.3 as compared to Rs.50.6 in the last period. The core pharmaceuticals business grew by 12.5 per cent.
Dr Hasit B Joshipura, managing director, said, “2012 growth was broad based across the company. Mass markets grew well. Vaccines continued the growth momentum by growing ahead of the market. Mass specialty and specialty, both showed market competitive growth.”
During 2012, GSK added new products across therapeutic areas. It launched Altargo in the dermatology portfolio; Volibris (Ambrisentan), a non-sulphonamide class endothelin receptor antagonist (ERA) to treat pulmonary arterial hypertension (PAH); Hycamtin to fulfill unmet needs for patients with advance cancers and relapsed small cell lung cancer (SCLC); Seretide Evohaler – a Metered Dose Inhaler (MDI) with dose counter to help patients keep a correct count of drug doses taken.
The company forayed in CNS through the launch of Lamictal a newer epileptic drug for treatment of partial and generalized seizures in children and adults. It is also used in bipolalr disorder for preventing mood episodes like depression and mania.
As against the equity capital of Rs.84.70 crore, its reserves and surplus amounted to Rs.1,922 crore as compared to Rs.1,851 crore in the previous year. The company successfully reduced its inventories level at Rs.285.15 crore from Rs.333.44 crore. Total assets worked out to Rs.3,088 crore as against Rs.3030 crore in the previous year.