GlaxoSmithKline profit boosted by asthma, HIV, flu treatment demand
Source - SMW
GlaxoSmithKline boosted its annual profit on buoyant demand for respiratory and HIV treatments, flu vaccines and consumer pain killers.
Adjusted operating profit, the company's preferred measure, rose by 12% in 2017 to £8.57bn. Statutory pre-tax profit increased by 82% to £3.53bn.
Revenue increased by 8% to £30.19bn, improving across all three business units: pharmaceuticals, vaccines and consumer healthcare.
The company declared a fourth interim dividend of 23p per share, which was unchanged from the previous corresponding period, and brought the full-year payout to 80p/share.
The company forecast the full-year dividend in 2018 to remain at 80p/share.
It also forecast adjusted earnings per share to grow by 4-7% in constant currency terms, in the event of no substitutable generic competitor to its Advair asthma treatment.
In the event of a mid-year introduction of a substitutable generic competitor to Advair in the US, the company said it expected EPS to be flat to down 3%.
'Looking ahead, in 2018 we could see a potential generic version of Advair in the US and our 2018 guidance reflects this,' chief executive Emma Walmsley said.
'With the sales momentum we anticipate from new and recent launches and focused improvements in operating performance we are increasingly confident in our ability to deliver mid-to-high single-digit growth in adjusted EPS compound annual growth rate.'
At 1:19pm: (LON:GSK) GlaxoSmithKline PLC share price was +12.5p at 1255.3p