GSK results better than expectations

Published: 2-Mar-2002


A strong sales performance by GlaxoSmithKline (GSK) has put its full-year results ahead of predictions at the time of the merger. According to ceo Dr Jean-Pierre Garnier, the 12% rise in pharmaceutical sales to £17.2bn (€28.2bn) was among the best in the industry, with strong growth in all geographical regions and in key therapy areas. The results were also helped by merger and manufacturing cost savings of more than £750m (€1.23bn).

Sales of new products – i.e. those launched within the last five years – rose by 48% to £3.709bn (€6.08bn), and now account for 22% of all GSK's pharmaceutical sales. The asthma treatment Seretide/Advair was, said Garnier, one of the most successful US drug launches of all time, and with global sales of £850m (€1.39bn) it is now GSK's fourth most important product globally and its top-selling product in Europe.

An FDA Advisory Committee recently recommended approval of Advair and Flovent for the treatment of Chronic Obstructive Pulmonary Disease (COPD) associated with bronchitis, and GSK is planning to launch Advair for COPD during the second quarter of 2002.

Having reviewed and streamlined its r&d portfolio last year, GSK now has 113 project in clinical development, consisting of 50 nces, 22 new vaccines and 41 line extensions. Besides Advair for COPD, other launches planned for 2002 are:

  • Vardenafil for erectile dysfunction, to be launched jointly with Bayer

  • Avolve (dutasteride) for the treatment of symptomatic benign prostatic hyperplasia

  • Bexxar, a new therapy which combines a monoclonal antibody with a radioisotope for the treatment non-Hodgkin's lymphoma

  • Infanrix PeNta, a pentavalent paediatric vaccine for diphtheria, tetanus, pertussis, hepatitis B and polio

    • The company is also planning to make six key regulatory filings in 2002.

    GSK is on target to achieve superior r&d productivity, said Garnier, and is on the way to achieving a strong later stage pipeline by 2004/05.

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