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GSK Australia reports 2020 results to ASIC, May 2021

GlaxoSmithKline (GSK) Australia has reported its 2020 results to the Australian Securities and Investment Commission (ASIC) for its pharmaceuticals and vaccines business, consumer healthcare, and ViiV Healthcare Australia (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 $781 million in 2020 and a profit before tax of $25 million (up from a loss in 2019 of $45m which was driven by goodwill impairment associated with historic acquisitions of the GSK Group).

In 2020 GSK strengthened its leadership in respiratory medicines with the launch of a new treatment and growth across the respiratory portfolio.

GSK is a primary supplier of vaccines for Australia, supplying state programs and the National Immunisation Program. In 2020, another GSK vaccine was listed on the National Immunisation Program for high-risk population groups.

In 2020 we announced a decision to exit our pharmaceuticals manufacturing facility in Boronia from the GSK network of manufacturing facilities. While exports from GSK Boronia continued to represent a significant proportion of GSK's revenue in Australia in 2020, this has been expected to evolve. The Boronia capabilities focus on high volume products and Blow-Fill-Seal manufacturing; however, our company’s innovative pipeline is expected to require less use of these capabilities in the future. We will conclude our manufacturing operations at GSK Boronia at the end of 2022.

Aligned to the company’s global strategy, GSK’s focus from 2020 into 2021 is to drive performance across the pharmaceuticals and vaccines portfolio and to realise the potential within the research and development pipeline, through registration of new medicines and vaccines, including in oncology. There are major new product launches anticipated in every year of our forward plan.

ViiV Healthcare Australia Pty Ltd

In 2020, ViiV Healthcare reported sales revenue of $66 million and profit before tax of $1.6 million. Sales were driven by the dolutegravir-based regimens, including the launch of a new regimen for the maintenance treatment of HIV.

Consumer Healthcare

In 2020, GSK Consumer Healthcare consolidated its operations with Pfizer Consumer Healthcare into a single platform under GlaxoSmithKline Consumer Healthcare Australia Pty Ltd to optimise the performance of the joint venture. GSK’s consumer healthcare business reported revenue of $527 million in 2020 and a profit before tax of $30 million (up from a profit before tax in 2019 of $14m).

Following an announcement in 2016, GSK closed the Ermington, NSW manufacturing facility in December 2020, representing a later than planned closure in order to meet global demand for paracetamol during the COVID-19 pandemic. In 2021, GSK will continue to innovate and bring Consumer Healthcare options to Australians, including a planned 2021 world-first launch of Centrum Benefits Blends in Australia.