GSK Pharma net profit down in Q3 – Latest News | India Business News

Feb 12, 2024

GSK Pharma reported a decline In Net Profit It grew 72% to Rs 46 crore in the third quarter ended December 31 regulatory price limits On some of its older brands. The pharmaceutical company had reported a net profit of Rs 165 crore in the year-ago period.
The company's total income increased to Rs 833 crore in the third quarter, from Rs 826 crore in the year-ago period.
Bhushan Akshikar, MD, GlaxoSmithKline Pharmaceuticals, said, “We are committed to developing new class lines in areas such as adult vaccination with products like Shingrix to positively impact the lives of patients in India.”
The company's revenue from operations during the quarter stood at Rs 805 crore, while its profit before extraordinary items and tax stood at Rs 228 crore, a company statement said.
In a flat generic drug-represented market during the quarter, GSK recorded 1% price growth despite the NLEM (National List of Essential Medicines) impact, a company statement said.
Augmentin improved its market share and maintained the no. 1 rank in the domestic pharmaceutical market, it added. The vaccine market and portfolio continued to grow sequentially.
It added that GSK will continue to invest in building new capabilities to improve reach and access to its innovative portfolio, including Shingrix, Nucala and Trelegi.

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