Drug-maker GlaxoSmithKline Pharmaceuticals said that continued growth of specialty products and vaccines, new product launches and tight expense control helped improve profits.
Growth for the quarter was market competitive, driven by a revival in the anti-infective and mass markets segment, said Dr Hasit B. Joshipura, Managing Director of GSK (India).
“Our specialty business continued to register good growth, aided by the launch of products from our global pipeline and branded generics. The vaccine business showed a high growth trajectory with the company continuing to expand its vaccine portfolio,” he added.
The quarter also saw the launch of Synflorix — a vaccine against invasive pneumococcal disease — the leading cause of childhood mortality in India, a GSK note said.
The company posted consolidated sales (including Biddle Sawyer) of Rs 2,433 crore for the year ended December 31 compared with Rs 2,195 crore in the corresponding period of the previous year. Net profits for the year under review saw a dip at Rs 428 crore compared to Rs 560 crore last year.
In 2011, the company had expanded its oncology portfolio by launching Votrient, indicated for the treatment of advanced renal cell carcinoma (RCC) and RevoladeTM for the treatment of idiopathic thrombocytopenic purpura or reduced platelet count. Branded generics were launched in the metabolic and Steifel range of products.
The board recommended a dividend of Rs 45 a share for the year, as compared to last year's Rs 40 a share. If approved at the shareholders meeting, the dividend payout will absorb Rs 381 crore, the company said. The Dividend Distribution Tax borne by the company will amount to Rs 60 crore, it added.
GSK shares were down over one per cent on the BSE, at Rs 2,088, on Thursday.