GLAXOSMITHKLINE PHARMACEUTICALS LTD
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BSE Code:
500660
NSE Code:
GLAXO
Business Profile
Business Profile
GlaxoSmithKline Pharmaceuticals (GLAXOPHARMA) was incorporated in 1924 as H. J. Foster and Company. Glaxo India became a wholly-owned subsidiary of Joseph Nathan and Co., UK. Later in 1947, the company was renamed as Glaxo Laboratories (India). In 2000, Glaxo Wellcome plc and SmithKline plc merged under an agreement to form a new company, named GlaxoSmithKline plc. With this merger, Glaxo India is now an affiliate of GlaxoSmithKline plc, which holds 51% of the equity and thus got the current name. Its principal products are Betamethasone based topical steroids, Betnovate-C, Betnovate-M, and Betnovate- GM. The company also markets over-the-counter (OTC) medicines, dental products, smoking control products and nutritional healthcare drinks.
Occupying a 6.5% market share (2005), GlaxoSmithKline Pharmaceuticals has Biddle Sawyer as its subsidiary. The company recently launched four new products licensed from companies in the US and Japan, viz. Parit (Rabeprazole) in alliance with Eisai, Japan, Ferronine (a novel chelated iron) in alliance with Albion, USA and two new oral contraceptives in alliance with Organon. As of Dec. 31, 2007, the products in clinical trials include Tykerb, Cervarix, Allermist, Eltrombopag, Synflorix and Rotarix. The Company divested Qualigens Fine Chemicals Business as a going concern to Thermo Electron LLS India in 2007.
GLAXOPHARMA plans to focus on the development of new technologies for Betamethasone, Clobetasone, Clobetasol and collaborative research work with GlaxoSmithKline - R&D, UK. The company`s registered office is located at Mumbai, India.
Financials
Glaxo SmithKline Pharmaceuticals registered a 8.94% growth in net profits to Rs 1212.70 million for the quarter ended in March 2008 from a profit of Rs 1113.20 million for the quarter ended in March 2007.
Net Sales declined 0.79% to Rs 4181.10 million for the quarter ended March 2008 from Rs 4214.60 million for the quarter ended March 2007.
Total income rose 0.79% to Rs 4522.1 million for the quarter ended March 2008 from Rs 4486.6 million for the quarter ended March 2007.
The earnings per share (EPS) of the company stood at quarter Rs 14.30 in the quarter ended March 2008.
Recent Developments
14-MAY-08
GlaxoSmithKline (GSK) Pharma signed a co-promotion agreement with Daiichi Sankyo India Pharma (DSIN) in Mumbai for the antihypertensive drug Olmesartan Medoxomil & its combination products. DSIN is a subsidiary of Daiichi Sankyo Company, a leading Japanese Pharmaceuticals company based in Tokyo.
05-MAY-08
GlaxoSmithKline (GSK) Pharma has announced a collaboration agreement with Japan-based Astellas Pharma for exclusive rights for the latter`s Injectable anti-fungal agent Micafungin in the Indian market.Micafungin, an original research product of Astellas was initially approved by Japanese Agency in 2002, by the USEDA in 2005 followed by other countries.
22-FEB-08
The Board of Directors of GlaxoSmithKline Pharmaceuticals has recommended the payment of a dividend of Rs 18 per equity share for the year ended December 31, 2007 and the directors also recommend a special additional dividend of Rs 18 per equity share.