GSK’s new products sales boost revenues, future demands
February 8, 2017GlaxoSmithCline has posted net profit in the fourth quarter 2016 of £1,062 million and fully year £8,372, and turnover revenue growth of 6% with sales mounting to £27.9 billion, mainly driven by continued strong performance of new products.
The new pharmaceutical products and vaccines launched recently sold for £1.4 billion in Q4, and £4.5 billion full year, which is more than double compared to new products selling in 2015.
New pharmaceutical products sales represented a quarter of the company’s 2016 Pharmaceuticals sales, and 27% of quarter sales.
However, over the period to 2020 GSK expects further declines in sales of Seretide/Advair. The introduction of a generic alternative to Advair in the US has been factored into the group’s assessment of its future performance, without premature loss of exclusivity for other key products over the period expected.
If no generic competition to Advair in the US appears GSK expect 2017 core EPS growth to be 5-7% CER.
Below is a video of the company’s CEO discussing full year results.
