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GSK Pharma Q4 net profit declines by 6% to Rs. 138 crore

Our Bureau, Mumbai
Tuesday, May 19, 2020, 12:45 Hrs  [IST]

Drug firm GlaxoSmithKline Pharmaceuticals reported a 5.95 per cent decline in its consolidated net profit to Rs. 138.07 crore for the fourth quarter ended March 31, 2020.

The consolidated revenue from operations stood at Rs. 776 crore for the quarter under consideration.

"Despite the headwinds caused by COVID-19 during Q4, I am pleased with our overall performance during the year. Keeping patient safety at the core, GSK continues to serve the patients through a dedicated workforce that has ensured continued production and supply of medicines across the country during such challenging circumstances," GlaxoSmithKline Pharmaceuticals MD Sridhar Venkatesh said.

Venkatesh further added, "In 2019, we continued to focus on delivering sustainable profitable growth. We witnessed an accelerated growth in the anti-infectives, dermatology and anti-pyretic therapy areas, through a skill-enhanced sales force and improved engagement with HCPs. Our major primary care brands grew at a better rate than the Indian Pharmaceutical Market. The underlying sales growth adjusting for tail-end brand rationalization and divestment is at a healthy 13% and key brands continue to grow at +20%.”


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