GlaxoSmithKline net sales up 9 per cent
26 July 2010
Mumbai: The Indian subsidiary of the UK's largest pharmaceutical firm GlaxoSmithKline Pharmaceuticals Limited today reported higher net sales of 12 per cent in the April - June 2010 qurter.
Overall, its net sales grew by 9 per cent during the quarter ended 30th June 2010 and by 14 per cent during the half year ended 30th June 2010.
The ongoing pharmaceuticals business continued to build with improvement in margins, GSK said. Operating profit before investment income grew by 14 per cent during the quarter ended 30th June 2010 and by 18 per cent during the half year ended 30th June 2010.
"The growth momentum continued in the pharmaceutical business with competitive growth in the mass markets, mass specialities and specialities businesses," said Dr Hasit B. Joshipura, managing director.
"During the quarter, sales of vaccines were significantly impacted on account of constraints on supply. The availability of vaccines, however, has been improving towards the end of the quarter."