GSK Pharma's Q3 Profit Jumps 35% on Strong Demand for Augmentin, Respiratory Drugs
Bengaluru: India's GlaxoSmithKline Pharmaceuticals reported a higher adjusted third-quarter profit on Friday, led by sustained demand for its respiratory drugs and antibiotic Augmentin.
The Indian unit of British drugmaker GSK said its profit before exceptional items and tax jumped 35per cent to 3.08 billion rupees ($35.5 million) in the October-December quarter.
The company had an exceptional charge of 1.63 billion rupees in the year-ago period due to costs related to a one-time voluntary retirement scheme.
Its revenue from operations climbed 18per cent to 9.49 billion rupees in the third quarter.
GlaxoSmithKline Pharma has been benefitting from rising market share for its antibiotic Augmentin and respiratory drugs Nucala and Trelegy. Strong demand for its vaccine for shingles, Shingrix, has also boosted earnings, the company said.
These have also helped it mitigate the impact of pricing curbs on some of its drugs that have been added to the Indian government's essential medicines list since September 2022.
Antibiotics and respiratory drugs are the company's biggest segments.
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