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Financial Report: GlaxoSmithKline

Respiratory and vaccine declines impact results

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By: Kristin Brooks

Managing Editor, Contract Pharma

GlaxoSmithKline

4Q Revenues: $9.9 billion (-12%)

4Q Earnings: $1.7 billion (-58%)

FY Revenues: $38.0 billion (-9%)

FY Earnings: $4.7 billion (-47%)

Comments: Pharmaceutical sales were $8.1 billion in the quarter down 12%. Respiratory sales were $2.7 billion, down 16% impacted by continued price and contracting pressures. Advair sales were $1.8 billion, down 22%. Vaccine sales were $1.3 billion down 19% impacted primarily by lower sales of Boostrix, impacted by supply constraints. Fluarix, FluLaval sales were $126 million, down 10%. Hepatitis sales were down 6% to $236 million. Infanrix, Pediarix sales were flat at $338 million. Oncology sales were up 24% to $535 million in the quarter, with Votrient sales up 26% to $184 million.

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