India's GlaxoSmithKline Pharma reports higher profit on strong demand for respiratory drugs

GlaxoSmithKline Pharmaceuticals

14/02/2025 10:43

Feb 13 (Reuters) - India's GlaxoSmithKline Pharmaceuticals  GLAX.NS  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  GSK.L  said its profit before exceptional items and tax jumped
35% 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 18% to 9.49 billion rupees in the third quarter. 
    For further results highlights, click  urn:newsml:reuters.com:*:nFWN3P50XT.
    
    KEY CONTEXT
    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.
    
    PEER COMPARISON    
                                                Estimates (next 12         Analysts' sentiment         
                                                      months)                                          
                      RIC        PE     EV/EBI  Revenue    Profit    Mean     # of      Stock to       Div
                                        TDA     growth     growth    rating*  analysts  price          yield
                                                (%)        (%)                          target**       (%)
 GlaxoSmithKline       GLAX.NS   35.20   25.68    9.65      19.80    Buy             4      0.71           1.60
 Pharmaceuticals Ltd                                                                                   
 Abbott India Ltd      ABOT.NS   39.95   31.54    10.44     13.75    Strong          4      0.87           1.45
                                                                     Buy                               
 Pfizer Ltd            PFIZ.NS   26.84   20.52    8.38      12.98    Buy             3      0.70           0.84
 Aurobindo Pharma      ARBN.NS   15.75    9.14    10.26     21.23    Buy            25      0.79           0.38
 Ltd                                                                                                   
 * Mean of analysts' ratings standardised to a scale of Strong Buy, Buy, Hold, Sell, and Strong Sell
 ** Ratio of the stock's last close to analysts' mean price target; a ratio above 1 means the stock is trading
above the PT
    
    OCTOBER TO DECEMBER STOCK PERFORMANCE
-- All data from LSEG
-- $1 = 86.7920 Indian rupees        

    <^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^
OCTOBER TO DECEMBER STOCK PERFORMANCE    https://tmsnrt.rs/3QhLLGj
    ^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^>
 (Reporting by Kashish Tandon in Bengaluru)
 ((Kashish.Tandon@thomsonreuters.com; 8800437922;))