The Pharmaceutical Journal
Vol 268 No 7186 p233-237
23 February 2002

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GSK profits now top £6bn

GLAXOSMITHKLINE reported pre-tax profits of over £6bn for last year on 14 February, citing strong new products as one of the driving forces behind this growth.

In the year to 31 December 2001, the company made pre-tax profits of £6.2bn, up 12 per cent on the previous year's figures, on sales of £20.5bn. Pharmaceutical sales grew by 12 per cent to £17.2bn. New products, those launched within the past five years, represented 22 per cent of sales and grew by 48 per cent to £3.7bn.

GSK's best selling product was Seroxat (paroxetine), with sales of £1.85bn, followed by Augmentin (co-amoxiclav) with £1.42bn. Seretide (fluticasone and salmeterol), sold as Advair in the United States, has become the company's fourth largest product with sales more than doubling to £850m.

During 2002, GSK is planning to launch Seretide for the treatment of chronic obstructive pulmonary disease, Avolve (dutasteride) for symptomatic benign prostatic hyperplasia, Bexxar (tositumomab) a radioimmunotherapy for non-Hodgkin's lymphoma, and Infanrix PeNta a five-in-one, paediatric vaccine for diphtheria, tetanus, pertussis, hepatitis B and polio. Vardenafil, an erectile dysfunction treatment, is to be launched in association with Bayer.

GSK is also planning to seek approval for several new products, including an enhanced MMR vaccine. The new vaccine MMR-V will protect children against varicella (chickenpox) as well as measles, mumps and rubella (PJ, 1 December 2001, p773).