India's GlaxoSmithKline Pharma reports profit rise on strong demand
The Indian unit of British drugmaker GSK (GSK.L), opens new tab reported consolidated profit of 2.63 billion rupees ($30.86 million) in the quarter ended March 31, up 35% year-on-year.
Its revenue from operations climbed about 5% to 9.74 billion rupees.
For further results highlights, click
KEY CONTEXT
GlaxoSmithKline Pharma has been benefitting from rising market share for its antibiotic Augmentin and respiratory drugs Nucala and Trelegy. Strong demand for its shingles vaccine, Shingrix, has also boosted earnings, the company said.
These have also helped it mitigate the impact of pricing curbs on some of its drugs that have been on the Indian government's essential medicines list since September 2022.
PEER COMPARISON
* The mean of analysts' ratings standardised to a scale of Strong Buy, Buy, Hold, Sell, and Strong Sell
** The ratio of the stock's last close to analysts' mean price target; a ratio above 1 means the stock is trading above the PT
JANUARY TO MARCH STOCK PERFORMANCE
-- All data from LSEG
-- $1 = 85.2150 Indian rupees
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