$41m profit for GSK
May 16, 2013
GLAXOSMITHKLINE says the
local Pharma industry appears to be
in a negative cycle, after reporting
its 2012 figures earlier this week.
GSK’s 2012 sales in Australia
amounted to $1.452 billion, and
while sales were up marginally
overall, with a 9% growth in exports
to $521 million, the $41m pre-tax
profit was lower due to changes in
the Pharmaceutical business.
The changing industry and PBS
reform saw GSK divest itself of its
Classic Brands division (comprising
25 non-promoted and genericised
products) plus several OTC brands
to Aspen and restructured its Vicbased
pharmaceutical division.
“Our pipeline of new medicines
has the potential to transform GSK’s
future and as such the divestment
of these brands allows us to focus
more on bringing new medicines
to Australian patients,” said Geoff
McDonald, GSK’s general manager
Pharmaceuticals Australia.
The Consumer Healthcare division
saw sales rise to $355m, with 18%
growth in Panadol Osteo and a
good performance from specialist
oral health brands, while sales also
rose in the Opiates division where
demand for medicinal poppies
continues to expand.
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