GSK Australia reports 2019 results (excluding Consumer Healthcare) to ASIC
GlaxoSmithKline (GSK) Australia has reported its 2019 results to the Australian Securities and Investment Commission (ASIC) for its pharmaceuticals and vaccines business, and ViiV Healthcare Australia (a joint venture with Pfizer and Shionogi focused on HIV). GSK Australia’s Consumer Healthcare business will report separately in the coming months.
Pharmaceuticals and vaccines
Operating under GlaxoSmithKline Holdings Pty Ltd, GSK’s pharmaceuticals and vaccines business reported revenue of $788 million in 2019 and a loss before tax of $45 million. This was a result of goodwill impairment associated with historic acquisitions of the GSK Group to the value of $75 million. Excluding the impact of this impairment recognition, the profit before tax was $30 million (up from $29 million in 2018).
In 2019 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 2019, the Pharmaceutical Benefits Advisory Committee recommended listing another GSK vaccine on the National Immunisation Program for high risk population groups.
Exports from our pharmaceuticals 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 2019 into 2020 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, including in oncology.
ViiV Healthcare Australia Pty Ltd
In 2019, ViiV Healthcare reported sales revenue of $79 million and profit before tax of $2.5 million. Sales were driven by the dolutegravir-based regimens, including the launch of a new regimen for the maintenance treatment of HIV.
About GSK Australia
GSK is a science-led global healthcare company with a special purpose: to help people do more, feel better and live longer. In Australia, we offer a broad portfolio of innovative and established medicines, particularly in respiratory disease and HIV. Our vaccines help to protect Australians throughout their lives and have been at the heart of the Australian National Immunisation Program from the time it began. We invested over $8 billion in research and development globally in 2019, focusing on science related to the immune system, human genetics and advanced technologies. We work closely with leading local researchers and clinicians to ensure that Australian patients can access the latest global innovations, as they happen.