Aug 3 (Reuters) – Vaccine maker GlaxoSmithKline Pharmaceuticals reported a 15.7% rise in first-quarter profit on Monday, aided by stable demand across its vaccine and drug portfolio, including respiratory and specialty medicines.
Here are some more details:
• Profit for the first quarter ended June 30 rose to 2.37 billion rupees ($24.86 million), from 2.05 billion rupees a year earlier.
• The company, an India-listed arm of the UK’s GSK, markets vaccines, specialty medicines and general medicines across a range of therapies, including respiratory diseases, dermatology, pain management, nutrition and hormones.
• Its specialty portfolio includes treatments for chronic respiratory conditions such as chronic obstructive pulmonary disease.
• Revenue from operations rose 16.6% to 9.38 billion rupees.
• “With a strong innovation pipeline and launch opportunities ahead, we are well-positioned to deliver sustainable growth,” managing director Bhushan Akshikar said.
• The company is preparing to launch Blenrep (belantamab mafodotin) for adults with relapsed or refractory multiple myeloma after prior treatment, it said.
• GSK India has also received marketing authorisation for Arexvy, a vaccine to prevent lower respiratory tract disease, for adults aged 60 and older and certain high-risk adults aged 50-59.
• “A stronger global specialty pipeline improves the long-term growth visibility for Glaxo India and supports its ongoing transition towards a more innovation-led portfolio,” analysts at DAM Capital wrote in a note.
($1 = 95.3375 Indian rupees)
(Reporting by Abhinav Parmar in Bengaluru; Editing by Tasim Zahid)
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