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PD breaking news – GSK posts $42m profit

GSK has reported $42m in total profit before tax for 2013.

GlaxoSmithKline (GSK) has reported total profit before tax of $42m for 2013 on sales of $1,414m.

Reporting to the Australian Securities and Investment Commission, the company said its Australian group sales had decreased on the year prior but that profit before tax was up “marginally”.

Exports were down 1% to $515m for the period, GSK said.

Business performance had been solid despite continuing challenges facing the pharmaceutical industry, GSK pharmaceuticals Australia general manager Geoff McDonald said.

“A decline in sales for the commercial pharmaceutical business has occurred as the full year impact of the divestment of our classic brands to Aspen Global Incorporated (Aspen) in late 2012 was realised.”

The Consumer Healthcare division saw a drop in commercial sales, of 4%, and manufacturing sales, of 20%, GSK said.

Pharmaceutical manufacturing sales were up about 17%, GSK said, and its Opiates business “continued to perform strongly, seeing growth year on year for the last three years.”

For more, see tomorrow’s Pharmacy Daily.


The above Breaking News Alert was sent to Pharmacy Daily subscribers on 03 Jun 14

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