Financial Daily from THE HINDU group of publications
Tuesday, Feb 14, 2006
Financial Daily from THE HINDU group of publications Tuesday, Feb 14, 2006 |
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Outlook GSK Pharma to bring in more products, intensify research Our Bureau
Mumbai , Feb. 13 IF 2005 has been a good year for Glaxosmithkline (GSK) Pharmaceuticals Ltd, the company is looking to keep that momentum by doing more clinical research and bringing new products into India this year, said the Managing Director of GSK, Mr S. Kalyanasundaram. The company targets a topline growth between seven and nine per cent and a bottom-line growth between 10-15 per cent in 2006, he told newspersons. Growth will be driven by the priority products identified by GSK that are not under price-control, and help provide the margins. In the current year, GSK will bring to India three of its own products, two vaccines and an asthma product, besides a product in licence from Roche, Mr Kalyanasundaram said. GSK will bring in two of its paediatric vaccines, Boostrix and Infanrix, this year. GSK is developing an "affordable range" of the globally available asthma drug, Seretide, he said. The product is being developed with Zydus Cadila. GSK also has an in-licensing agreement with Swiss-company Roche and will market locally Roche's cardiac product Carvedilol. GSK was doing clinical work in areas such as cancer, diabetes, central nervous system and cardio-vascular products, he said. He also hinted at a collaboration with Ranbaxy on malaria drugs. GSK expects its vaccines plant in Nashik to be operational by the end of the year. Bird-flu drug: Meanwhile, GSK has applied for registration in India of its bird-flu drug Relenza. At present the demand for the drug globally exceeds its supply, he said, and added that they would mobilise stocks for the country, if the Government approached them. Q4 & 2005 performance: The company posted a 79 per cent growth in net profit at Rs 42.38 crore (Rs 23.63 crore) for the three-month period or fourth quarter ended December 2005. Total income net of excise has increased to Rs 344.39 crore (Rs 299.24 crore). GSK posted a net profit of Rs 502.08 crore for the year ended December 31, 2005, against Rs 333.09 crore for the previous. Total income net of excise increased to Rs 1,550.94 crore (Rs 1,429.23 crore). The Senior Executive Director of GSK, Mr Mehernosh Kapadia, said the company benefited from the Rs 217 crore that it got from the sale of two of its plots in Mulund. The company had taken a Rs 28-crore hit because of a change in the excise law early last year, he added. Dividend: The board of directors has recommended the payment of a dividend of Rs 14 per share for the year ended December 31, 2005. The directors have also recommended a special additional one-time dividend of Rs 14 per share, the official said. The company is also instituting an award for excellence in research.
Related Stories: More Stories on : Outlook | Pharmaceuticals | Glaxosmithkline Pharmaceuticals Ltd
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