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Financial Report: GlaxoSmithKline

Pharmaceutical sales down 6% primarily reflecting the sale of the oncology business

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By: Kristin Brooks

Managing Editor, Contract Pharma

GlaxoSmithKline
 
2Q Revenues: £5.9 billion (+6%)

2Q Earnings: £115 million (earnings were £702 million 2Q14)

YTD Revenues: £11.5 billion (+3%)

YTD Earnings: £8.2 billion (earnings were £1.4 billion YTD14)

Comments: Pharmaceutical sales were £3.5 billion, down 6% primarily reflecting the sale of the oncology business to Novartis. Respiratory sales declined 6%, reflecting further declines in Seretide/Advair in both the U.S. and Europe and the continuing transition of the portfolio to newer products. Sales of Established Products declined 5%, with growth of 3% in International offset by declines in the U.S. and Europe. HIV products grew 59%. Vaccine sales were £0.8 billion, up 11% with growth in Europe and offset by declines in the U.S. and International. Consumer Healthcare sales were £1.5 billion, up 51% with strong growth in the U.S. with the recent launch of OTC Flonase, and in Europe, offset by a weaker performance in International.

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