GlaxoSmithKline Pharmaceuticals, a leading MNC belonging to GlaxoSmithKline Plc. (GSK), has received setback during the quarter ended September 2015 mainly on account of global deal between GSK and Novartis. The net profit of Indian arm of GSK declined by 25.4 per cent to Rs.147.09 crore from Rs.195.15 crore in the corresponding quarter of last year due to lower sales. Its net sales declined by 6.4 per cent to Rs.691.90 crore from Rs.738.98 crore. EPS declined to Rs.11.2 from Rs.15.2 in the last period.

During April 2014, GSK, London entered into an inter-conditional agreement with Novartis AG, Basel. Under the agreement GSK set to acquire the Novartis's vaccines business and manufacturing capabilities and facilities from Novartis, and GSK sell its rights to marketed oncology portfolio, related R&D activities and AKT inhibitors currently in development to Novartis AG. Pursuant to the global deal, GlaxoSmithKline Pharma has completed this transaction on September 30, 2015 on receipt of all applicable legal and regulatory approvals. The company has shown exceptional loss of Rs.7.84 crore during the quarter which impacted its bottom line during the quarter under review.

For the first six months ended September 2015, its net sales declined by 5.7 per cent to Rs.1,313 crore from Rs.1,394 crore and its net profit 16.6 per cent to Rs.189.33 crore from Rs.226.96 crore.

The company achieved net sales of Rs.3,253 crore during the 15 months period ended March 2015 and earned a net profit of Rs.471.65 crore.