GlaxoSmithKline Pharmaceuticals Limited reported improved profitability with continued momentum across General medicines and Specialty; Declares annual dividend of Rs. 32
Mumbai - GlaxoSmithKline Pharmaceuticals Limited, today announced its financial results for the fiscal year ended March 31, 2023.
Revenue from continuing operations for the quarter ended March 31, 2023 was Rs. 782 crores. A robust underlying volume growth was offset by the impact of National List of Essential Medicines (NLEM) 2022.
For FY 2022-23, Revenue came in at Rs. 3216 crores and Profit Before Tax (PBT) from continuing operations (before exceptional items) grew 9% to Rs. 833 crores. The EBITDA margins improved by 1.4% compared to the previous fiscal with continued focus on improving operational efficiencies and expenditure control.
The General Medicine portfolio saw a double-digit underlying growth, with Augmentin becoming the No.1 brand in the Indian Pharmaceutical Market (IPM) in 2022 (PharmaTrac AWACS). The company continued to maintain market leadership in therapies such as Dermatology and Pain. The self-pay vaccines market continued to decline year on year with early signs of recovery.
The company leveraging from the successful global portfolio, launched the innovative vaccine Shingrix (Zoster Vaccine Recombinant, Adjuvanted), for adults above 50 years of age, for protection against Shingles (Herpes Zoster) with >90% efficacy.
Mr. Bhushan Akshikar, Managing Director, GlaxoSmithKline Pharmaceuticals Limited commented,
"GSK remains focused on gaining share and defending leadership position of key brands for therapies in which we operate. With the launch of our global blockbuster Shingrix we expect to address an unmet preventive health need and gain momentum for our vaccines business."
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