GSK Australia reports 2018 results to ASIC
30 April 2019
GlaxoSmithKline (GSK) Australia has reported its 2018 results to the Australian Securities and Investment Commission (ASIC) for its pharmaceuticals and vaccines business, as well as GSK Consumer Healthcare and ViiV (a joint venture with Pfizer and Shionogi focused on HIV).
Pharmaceuticals and vaccines
Operating under GlaxoSmithKline Holdings Pty Ltd, GSK’s pharmaceuticals and vaccines business reported revenue of $840 million in 2018 and a loss before tax of $161 million. This was a result of goodwill impairment associated with historic acquisitions of the GSK Group to the value of $190 million. Excluding the impact of this impairment recognition, the profit before tax was $29 million (up from $22 million in 2017).
In 2018 GSK strengthened its leadership in respiratory medicines with the launch of a new medicine and growth across the respiratory portfolio.
GSK is a primary supplier of vaccines for Australia, supplying state programs and the National Immunisation Program. In 2018 GSK increased sales of its vaccines to the private market.
Exports from its manufacturing facility in Boronia continued to represent a significant proportion of GSK's revenue in Australia.
Aligned to the company’s global strategy, GSK’s focus from 2018 into 2019 is to drive performance across the pharmaceuticals and vaccines portfolio and to realise the potential within the research & development pipeline, through registration of new medicines and vaccines.
GSK Consumer Healthcare Australia
In 2018, GSK Consumer Healthcare reported revenue of $379 million and profit before tax of $41 million. The Panadol franchise continues to be the leading pain relief brand. This is complemented by GSK’s Voltaren franchise and specialist oral health portfolio.
In 2018 GSK completed the sale of its Ermington manufacturing site in NSW, which is due to close in 2020.
ViiV Healthcare Australia Pty Ltd
In 2018, ViiV Healthcare reported sales revenue of $90 million and profit before tax of $2.4 million. Sales were driven by the dolutegravir-based regimens, including the launch of a new regimen for the maintenance treatment of HIV.
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