GlaxoSmithKline Pharmaceuticals (GSK), a leading MNC in India with revenues of 2,400 crore plus, is set to maintain sales growth of 13 to 15 per cent in current year. Addressing the annual general meeting of shareholders, D S Parekh, chairman, said, the company will continue to strive to bring new treatments and vaccines to serve patients in India in a manner that they are accessible to as many patients as possible. The dermatology business continues to maintain the leadership position with 15 per cent market share.
The board of directors have appointed R Krishnaswamy as executive director in place of Dr A Banerjee with effect from August 1, 2011. He was senior vice-president, global manufacturing with Wockhardt Ltd. The board have also appointed A N Roy, ex-Director General of Police, Maharashtra, as additional director with effect from November 4, 2011.
GSK has clocked net sales of Rs. 2,378 crore during the year ended December 2011 as against Rs. 2,151 crore in the previous year. It earned a net profit before exceptional items of Rs. 629 crore as compared to Rs. 578 crore and recommended handsome equity dividend of Rs. 45 per share.
GSK's mass specialty business recorded double digit growth over the previous year. The foray into branded generics market with Zobactin and Esblanem yielded good results and Zobactin is ranked as the No 2 brand in a market which has more than 56 brands of piperacillin plus tazobactum. The vaccines business grew significantly higher than the overall vaccines market growth. The key drivers of growth were brands Havrix, Varilrix and Rotarix. The vaccines field force has doubled over the past two years thereby enabling better reach and coverage of pediatricians and non-paed specialties across the country.
While addressing AGM, D S Parekh said, “Cervical cancer being a leading cause of mortality in women in India, your company launched a vaccine for cervical cancer at a flexible India specific price to make the vaccine as accessible as possible. More recently in 2011, your company launched Votrient for renal carcinoma, again at an India specific price to make the drug as accessible as possible. Revolade was launched again at a flexible India specific price. Lastly, pneumococcal disease is again a leading cause of infant mortality in India. Your company launched a 10 valent vaccine in India in December at flexible, India pricing.”
GSK has received approval for 10 new products and 2 INDs from CDSCO, which will enable timely access to new and innovative therapeutic options to patients in India. Additionally, to support the R&D efforts, it submitted 7 global clinical trial applications to CDSCO, and have been granted approval to conduct 4 studies in the Indian population through the clinical operations team in India. GSK initiated 6 new clinical studies during the year, most of which were in oncology.