GLAXO

Aug 1 (Reuters) - Indian drugmaker GlaxoSmithKline Pharma GLAX.NS reported its first quarterly revenue decline in more than two years on Friday, leading to its shares declining the most in nearly four months.

The Indian unit of British drugmaker GSK Plc GSK.L reported a 2% decline in its revenue from operations to 8.05 billion rupees ($92 million)for the first quarter ended June 30.

GlaxoSmithKline Pharma said its performance during the quarter was "below anticipated levels," as it was hurt by "external factors such as seasonal disruptions".

The stock slumped 5.5% after results and was on track for its worst day since early April.

This is the company's first revenue drop since March 2023, when it grappled with lower prices of its key drugs due to the government's pricing cap.

Separately, in May, it had a temporary production disruption due to a fire at one of its contract manufacturing facilities, but did not disclose whether there was a financial impact from it.

Its quarterly profit climbed 12.5% on-year to 2.05 billion rupees as the company kept a tight lid on its expenses. Total expenses for the quarter dropped 5.2%.

($1 = 87.4090 Indian rupees)

(Reporting by Kashish Tandon in Bengaluru; Editing by Janane Venkatraman)

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June 19 (Reuters) - GlaxoSmithKline Pharmaceuticals Ltd GLAX.NS:

• RECEIVES TOTAL TAX DEMAND ORDER OF 30.7 MILLION RUPEES

Source text: ID:nBSE8hWFp3

Further company coverage: GLAX.NS

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April 11 (Reuters) - GlaxoSmithKline Pharmaceuticals Ltd GLAX.NS:

• GETS TAX ORDER OF 216.3 MILLION RUPEES

Source text: [ID:]

Further company coverage: GLAX.NS

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** Shares of GlaxoSmithKline Pharmaceuticals GLAX.NS jump 12.4% to 2,266 rupees

** Drugmaker reports 35% Y/Y jump in third-quarter adjusted profit, rev up 18% Y/Y

** GLAX's profit growth driven by strong demand for its respiratory drugs and antibiotic Augmentin, while demand for its vaccines also boosted earnings

** Analysts' avg rating on GLAX at "buy"; median PT is 2,675.50 rupees - data compiled by LSEG

** Stock gained 19% in 2024

(Reporting by Kashish Tandon in Bengaluru)

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Feb 14 (Reuters) - GlaxoSmithKline Pharmaceuticals Ltd GLAX.NS:

• GLAXOSMITHKLINE PHARMA Q3 CONSOL PROFIT 2.3 BILLION RUPEES

• GLAXOSMITHKLINE PHARMA Q3 CONSOL REVENUE FROM OPERATIONS 9.49 BILLION RUPEES

• GLAXOSMITHKLINE PHARMACEUTICALS - RE-APPOINTMENT OF JUBY CHANDY AS CHIEF FINANCIAL OFFICER

Source text: ID:nBSE1JhsBH

Further company coverage: GLAX.NS

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Feb 5 (Reuters) - GlaxoSmithKline Pharmaceuticals Ltd GLAX.NS:

• GLAXOSMITHKLINE PHARMACEUTICALS - GOT TAX DEMAND ORDER OF 4.8 MILLION RUPEES

Source text: ID:nBSE836t2c

Further company coverage: GLAX.NS

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** Shares of GlaxoSmithKline Pharma GLAX.NS rise 2% to 2,682 rupees

** The pharma co posted a 15% uptick in Q2 consol profit before tax to 3.44 bln rupees (~$41 mln)

** Rev for ops grew 5.6%, driven by strong demand for its generic drugs and vaccines

** Stock up 41% so far this year

($1 = 84.0770 Indian rupees)

(Reporting by Ashna Teresa Britto in Bengaluru)

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Oct 29 (Reuters) - GlaxoSmithKline Pharmaceuticals Ltd GLAX.NS:

• SEPT-QUARTER PROFIT 2.53 BILLION RUPEES

• SEPT-QUARTER REVENUE FROM OPERATIONS 10.11 BILLION RUPEES

• NUMBERS ARE IN CONSOLIDATED BASIS

• DIVIDEND 12 RUPEES PER SHARE

Source text: ID:nBSE4pH2MH

Further company coverage: GLAX.NS

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Adds details and background in paragraphs 3-7, responses from Moderna and GSK in paragraph 3

By Blake Brittain

Oct 15 (Reuters) - British drugmaker GlaxoSmithKline GLAX.NS sued Moderna MRNA.O in U.S. federal court in Delaware on Tuesday, accusing its American rival of violating GSK's patent rights in messenger RNA (mRNA) technology with its blockbuster COVID-19 vaccine Spikevax.

According to the two lawsuits, Moderna's lipid nanoparticles for transporting fragile mRNA into the human body infringe several GSK patents covering similar innovations. GSK filed a related lawsuit against Pfizer PFE.N and BioNTech 22UAy.DE in the same court in April over their COVID-19 vaccine. The new litigation seeks unspecified monetary damages.

A Moderna spokesperson said the company was aware of the new litigation and would defend itself against the claims. A GSK spokesperson said the drugmaker is "willing to license these patents on commercially reasonable terms and to ensure continued patient access."

The lawsuits add to a web of U.S. court cases involving Pfizer, BioNTech and Moderna over patent royalties for technology used in their vaccines, including one brought by Moderna against Pfizer in 2022.

Moderna earned $6.7 billion in revenue from Spikevax last year. Pfizer made $11.2 billion from sales of its and BioNTech's vaccine Comirnaty. Sales of both vaccines declined significantly last year from 2022.

GSK said in the new litigation that its patents cover mRNA technology pioneered in 2008 that provides "the foundation for Moderna's mRNA vaccine portfolio." GSK said it bought the rights to the inventions when it acquired part of Novartis' NOVN.S vaccine business in 2015.

(Reporting by Blake Brittain
Editing by David Bario and Will Dunham)

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Sept 3 (Reuters) - GlaxoSmithKline Pharmaceuticals Ltd GLAX.NS:

• GETS INCOME TAX REFUND ORDER FOR 2.22 BILLION RUPEES

Source text for Eikon: ID:nNSE6ckYJW

Further company coverage: GLAX.NS

(Reporting by VijayDattaram Malkar)

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Aug 30 (Reuters) - GlaxoSmithKline Pharmaceuticals Ltd GLAX.NS:

• GLAXOSMITHKLINE PHARMACEUTICALS - GETS TAX ORDER OF 21 MILLION RUPEES, INTEREST 15 MILLION RUPEES

Further company coverage: GLAX.NS

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Aug 26 (Reuters) - GlaxoSmithKline Pharmaceuticals Ltd GLAX.NS:

• GLAXOSMITHKLINE PHARMA- ORDER FROM PUNJAB GST AUTHORITIES DROPPING PROCEEDINGS OF SHOW CAUSE NOTICE

Source text for Eikon: ID:nBSE3xk4Wb

Further company coverage: GLAX.NS

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Aug 8 (Reuters) - GlaxoSmithKline Pharmaceuticals Ltd GLAX.NS:

• GLAXOSMITHKLINE PHARMACEUTICALS - GOT TAX DEMAND AGGREGATING TO 9.8 MILLION RUPEES

Source text for Eikon: ID:nBSE6gW1mq

Further company coverage: GLAX.NS

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June 25 (Reuters) - GlaxoSmithKline Pharmaceuticals Ltd GLAX.NS:

• GOT ORDER FROM GST OFFICE RAISING DEMAND OF 716.6 MILLION RUPEES

Further company coverage: GLAX.NS

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** Shares of GlaxoSmithKline Pharmaceuticals GLAX.NS up 7.1% to 142.3 rupees, its highest since late Feb.

** Healthcare firm's Q4 consol profit jumps ~46% y/y to 1.94 bln rupees, rev from ops up 18%

** Stock was down 0.1% ahead of results

** GLAX is up about 16.3% this week so far, on course for highest weekly gains

** Including session's gains, GLAX is up 22% YTD

(Reporting by Manvi Pant in Bengaluru)

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BENGALURU, May 9 (Reuters) - Indian drugmaker Abbott India ABOT.NS reported a 24% rise in fourth-quarter profit on Thursday, as strong sales outpaced the impact of government pricing caps on certain medicines.

The company, which makes the popular antacid medicine Digene, said its profit rose to 2.87 billion rupees ($34.3 million) for the three months ended March 31, from 2.31 billion rupees a year earlier.

Revenues of drugmakers such as Abbott India and GlaxoSmithKline Pharma India GLAX.NS, which get most of their business from India, have been impacted after the inclusion of some of their drugs in the government's essential medicines list in September 2022, making them susceptible to price caps.

Abbott, which is a unit of U.S. healthcare firm Abbott Laboratories ABT.N, has been trying to mitigate the impact of pricing curbs by driving up sales and cutting back on expenses.

The company, which makes drugs including hypothyroidism treatment tablets Thyronorm, said its revenue from operations rose 7% to 14.39 billion rupees in the fourth quarter.

The company declared a dividend of 410 rupees per share for fiscal year 2024.

($1 = 83.4760 Indian rupees)

(Reporting by Kashish Tandon in Bengaluru; Editing by Mrigank Dhaniwala)

(([email protected]; 8800437922;))

By Blake Brittain

April 25 (Reuters) - GlaxoSmithKline GLAX.NS sued Pfizer PFE.N and BioNTech 22UAy.DE in Delaware federal court on Thursday, accusing them of infringing GSK patents related to messenger RNA (mRNA) technology in the companies' blockbuster COVID-19 vaccines.

GSK said in the lawsuit that Pfizer and BioNTech's Comirnaty vaccines violate the company's patent rights in mRNA-vaccine innovations developed "more than a decade before" the outbreak of the COVID-19 pandemic.

(Reporting by Blake Brittain)

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BENGALURU, Feb 12 (Reuters) - GlaxoSmithKline Pharmaceuticals GLAX.NS, the Indian unit of the UK's GSK GSK.L, reported a 3% fall in third-quarter profit on Monday, hurt by the government's pricing cap on certain medicines.

Consolidated profit before exceptional items and tax for the quarter ended Dec. 31 was 2.29 billion rupees ($27.6 million), compared with 2.36 billion rupees a year earlier.

GlaxoSmithKline, which derives most of its revenue from India, continued to grapple with challenges following the inclusion of its key products such as Ceftum antibiotic and T-Bact ointment in the country's National List of Essential Medicines (NLEM) in September 2022, mandating sales below a government-set price ceiling.

It's revenue declined for three straight quarters following the adoption of the list before rebounding on the growth in its vaccine business in the June quarter of last fiscal year.

Revenue from operations rose a meagre 0.4% to 8.05 billion rupees in the latest quarter.

The company, which makes Augmentin antibiotic, incurred a one-time charge of 1.63 billion rupees, related to the cost of a voluntary retirement scheme and other employee dues.

It also had a one-time charge of 113.7 million rupees in the year-ago period, due to restructuring costs.

Last month, parent GSK beat market estimates for its fourth-quarter results and provided an upbeat forecast for 2024 and beyond, citing the expansion of its vaccines and cancer drugs pipeline.

Earlier this month, rival Abbott India ABOT.NS reported a 26% jump in third-quarter profit on elevated sales.

($1 = 82.9720 Indian rupees)

(Reporting by Kashish Tandon in Bengaluru; Editing by Dhanya Ann Thoppil)

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BENGALURU, Feb 1 (Reuters) - Pharmaceutical firm Abbott India ABOT.NS reported a 26% rise in third-quarter profit on Thursday, as higher sales outpaced the impact of a pricing cap on certain medicines.

The company, which makes popular antacid medicine Digene, said its profit rose to 3.11 billion rupees ($37.5 million) from 2.47 billion rupees a year earlier.

Revenues of drugmakers such as Abbott India, which get most of their business from India, continued to be affected during the quarter as some of their key drugs were included in the government's essential medicines list in September 2022, making them susceptible to price caps.

This was also highlighted by GlaxoSmithKline Pharma GLAX.NS in its previous earnings.

Abbott, which is a unit of U.S. healthcare firm Abbott Laboratories ABT.N, has been trying to mitigate the impact of pricing curbs by driving up sales and cutting back on expenses.

The company, which makes drugs including hypothyroidism treatment tablets Thyronorm, said its revenue from operations rose nearly 9% to 14.37 billion rupees.

Peer GlaxoSmithKline Pharma is set to report its December-quarter results next week.

Shares of Abbott India settled flat ahead of results.

($1 = 82.9510 Indian rupees)

(Reporting by Kashish Tandon in Bengaluru; Editing by Sonia Cheema and Mrigank Dhaniwala)

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** Shares of GlaxoSmithKline Pharmaceuticals GLAX.NS rise as much as 8.3% to a record 2,259 rupees; last up 4.9%

** Reuters could not immediately verify the reason for the move

** Stock last hit all-time highs in December while logging gains for 11 straight sessions

** Stock has risen about 5% twice so far in January and had risen about 5% thrice throughout 2023

** Avg analyst rating on GLAX stock is "hold", same as rival Dr Reddy's REDY.NS; Sun Pharma SUN.NS, Cipla's CIPL.NS avg rating is "buy" - LSEG data

** GLAX's avg PT is 1,686.5 rupees, 23% lower than current price - LSEG data

(Reporting by Varun Vyas in Bengaluru)

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GlaxoSmithKline Pharmaceuticals Ltd GLAX.NS:

• GLAXOSMITHKLINE PHARMACEUTICALS LTD- GOT ORDER FOR GST DEMAND AT 10.7 MILLION RUPEES

Source text for Eikon: ID:nBSE4jZJMb

Further company coverage: GLAX.NS

** Shares of GlaxoSmithKline Pharmaceuticals GLAX.NS rise ~5% to 1,848 rupees, an all-time high

** Stock among top gainers on 20-member nifty pharma index .NIPHARM

** Reuters could not immediately ascertain a reason for the stock move

** Drugmaker's stock currently trading up ~2%; on track for fourth consecutive session of gains, if trend holds

** GLAX set for best quarter since Dec-qtr in 2021

** Stock trading ~19% above its median PT of 1,515 rupees - LSEG

** Trading volume 1.4x the 30-day moving average

** Avg rating of five analysts on GLAX at "hold" - LSEG data

** Stock up ~36% YTD vs a ~31% climb in the pharma index

(Reporting by Kashish Tandon in Bengaluru)

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Dec 26 (Reuters) - GlaxoSmithKline Pharmaceuticals Ltd GLAX.NS:

• GST TAX OFFICERS VISITED CO CFA'S PREMISES IN CHENNAI & HOSUR ON DEC 24 FOR INSPECTION OF GOODS AND DOCUMENTS

• VISIT FOR SUPPRESS OF TRANSACTIONS RELATING TO SUPPLY OF GOODS AND / OR SERVICES UNDER GST

• NO IMPACT ON GSK

• RECEIVED ORDER DATED DEC 23 FROM ANDHRA PRADESH STATE GST AUTHORITIES DISALLOWING CERTAIN GST CREDITS

• RECEIVED ORDER DATED DEC 20 FROM WEST BENGAL CENTRAL GST AUTHORITIES

Source text for Eikon: ID:nBSE57kMTy

Further company coverage: GLAX.NS

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ANKARA, Nov 30 (Reuters) - Turkey's competition authority has launched a probe into 19 pharmaceutical companies including AstraZeneca AZN.L, Bayer BAYGn.DE, Glaxosmithkline GLAX.NS, Johnson & Johnson JNJ.N, Bausch & Lomb BLCO.TO, Sanofi SASY.PA and Pfizer PFE.N, it said in a statement on Thursday.

The competition authority did not provide any further details on the investigation.

(Reporting by Ezgi Erkoyun and Huseyin Hayatsever; Editing by Sharon Singleton)

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** Shares of GlaxoSmithKline Pharmaceuticals GLAX.NS rise as much as 6.2% to 1,675 rupees, highest since Jan. 24, 2022

** Reuters could not immediately ascertain the reason for the stock movement

** Stock has risen 13.7% since reporting Q2 profit climb on Nov. 9

** Over 553,000 shares change hands as of 3:26 p.m. IST, 5X the 30-day moving average

** Mean rating of five analysts is "hold"; median PT is 1,515 rupees - LSEG data

** Stock up 25% YTD

(Reporting by Varun Vyas in Bengaluru)

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Nov 16 (Reuters) - GlaxoSmithKline Pharmaceuticals Ltd GLAX.NS:

• GLAXOSMITHKLINE PHARMACEUTICALS LTD - APPROVED COMMERCIAL TRANSFORMATION INITIATIVE

• GLAXOSMITHKLINE PHARMACEUTICALS LTD - WILL EXPLORE NEW INNOVATIVE SOLUTIONS INCLUDING OMNICHANNEL STRATEGY TO EXPAND ITS REACH AND COVERAGE TO TARGET SEGMENTS

• GLAXOSMITHKLINE PHARMACEUTICALS - LAUNCHED VOLUNTARY RETIREMENT SCHEME FOR COMMERCIAL FUNCTION EMPLOYEES

Source text for Eikon: ID:nBSE1x4wMG

Further company coverage: GLAX.NS

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Corrects spelling of Managing Director's name in paragraph 5

BENGALURU, Nov 9 (Reuters) - GlaxoSmithKline Pharmaceuticals GLAX.NS reported a 12.5% rise in quarterly profit on Thursday as the Indian unit of UK's GSK plc saw strong demand for its vaccines and general medicine.

Consolidated profit for the quarter ended September 30 rose to 2.18 billion rupees ($26.18 million) from 1.93 billion rupees a year earlier.

Sales of general medicine grew 5% during the quarter, while those of vaccines rose 10% led by demand for its shingles vaccine, Shingrix, the company said in a statement.

Revenue from operations rose 4.4% to 9.57 billion rupees. Cost of materials consumed fell 31.2% during the quarter.

"We held leadership position for our key brands in relevant therapy areas such as anti-infectives and dermatology," said Bhushan Akshikar, managing director of GSK India.

GSK GSK.L raised its full-year profit and sales guidance for the second time after its third-quarter earnings beat expectations earlier this month. The raise in forecast is following the strong launch of its respiratory syncytial virus (RSV) vaccine in the United States

Shares in GSK India closed up 0.3% ahead of results on Thursday, where the Nifty Pharma index .NIPHARM. closed down 0.03% today.

($1 = 83.2810 Indian rupees)

(Reporting by Ashna Teresa Britto in Bengaluru; Editing by Nivedita Bhattacharjee)

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Aug 31 (Reuters) - GlaxoSmithKline Pharmaceuticals Ltd GLAX.NS:

• ASSISTANT COMMISSIONER OF STATE TAX INITIATED SEARCH AT PREMISES OF CO

• BUSINESS OPERATIONS OF CO CONTINUE AS USUAL

Source text for Eikon: ID:nBSE9c1PPJ

Further company coverage: GLAX.NS

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BENGALURU, Aug 9 (Reuters) - Abbott India ABOT.NS, the Indian arm of U.S. healthcare firm Abbott Laboratories ABT.N, reported a 41% rise in its first-quarter profit on Wednesday, driven by strong sales in its mainstay pharmaceuticals segment.

The company, which makes pain-reliever ibuprofen under the brand name Brufen, said its profit rose to 2.90 billion rupees ($35.02 million), compared with 2.06 billion rupees a year earlier.

Revenue from operations rose 13.4% to 14.79 billion rupees for the quarter.

For further earnings highlights, click here.

KEY CONTEXT

Abbott India, for which the pharmaceutical segment is the sole revenue generator, develops and distributes over 600 products in India, including vitamins, anti-allergic drugs and consumer care.

The company has reported a double-digit growth in its revenue for the past three quarters, led by falling operating expenses and steady sales.

Last month, peer GlaxoSmithKline Pharmaceuticals GLAX.NS posted an 11% rise in its first-quarter profit, helped by a steady vaccines business.

PEER COMPARISON

* Mean of analysts' ratings standardised to a scale of Strong Buy, Buy, Hold, Sell, and Strong Sell

** Ratio of the stock's last close to analysts' mean price target; a ratio above 1 means the stock is trading above the PT

APRIL TO JUNE STOCK PERFORMANCE

-- All data from Refinitiv

-- $1 = 82.8150 Indian rupees

(Reporting by Kashish Tandon and Biplob Kumar Das in Bengaluru; Editing by Janane Venkatraman)

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July 26 (Reuters) - GlaxoSmithKline Pharmaceuticals Ltd GLAX.NS:

• JUNE-QUARTER CONSOL PROFIT 1.32 BILLION RUPEES VERSUS 1.19 BILLION RUPEES

• JUNE-QUARTER CONSOL REVENUE FROM OPERATIONS 7.62 BILLION RUPEES VERSUS 7.45 BILLION RUPEES

Source text for Eikon: ID:nBSE8GVhV0

Further company coverage: GLAX.NS

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