GLAXOSMITH’s revenue continued its upward trajectory, expanding by 15.95% in H1:2019 from NGN8.59bn to NGN9.96bn in H1:2018. The strong performance was underpinned by revenue growth in the pharmaceutical unit which accounts for 69.20% of the group’s revenue. The firm recorded a spiking growth of 24.81% in the pharmaceutical unit to NGN6.90bn in H1:2019 from NGN5.53bn in H1:2018. Clearly, the firm’s position, antecedence and international alliance paves a way for it in the pharmaceutical market. The heat from competitors in the consumer healthcare space (Oral healthcare, Over-the-counter drugs and nutritional supplements), coupled with the unabating pressure on consumers’ purse contributed to the revenue decline in the consumer segment. In the near term, we expect the pharmaceutical unit to chart the course of the group’s revenue, driving it to NGN20.67bn as projected at the start of the year. Kindly find attached the full report.
Earnings Update- GLAXOSMITH: H1 2019.
GLAXOSMITH’s revenue continued its upward trajectory, expanding by 15.95% in H1:2019 from NGN8.59bn to NGN9.96bn in H1:2018. The strong performance was underpinned by revenue growth in the pharmaceutical unit which accounts for 69.20% of the group’s revenue. The firm recorded a spiking growth of 24.81% in the pharmaceutical unit to NGN6.90bn in H1:2019 from NGN5.53bn in H1:2018. Clearly, the firm’s position, antecedence and international alliance paves a way for it in the pharmaceutical market. The heat from competitors in the consumer healthcare space (Oral healthcare, Over-the-counter drugs and nutritional supplements), coupled with the unabating pressure on consumers’ purse contributed to the revenue decline in the consumer segment. In the near term, we expect the pharmaceutical unit to chart the course of the group’s revenue, driving it to NGN20.67bn as projected at the start of the year. Kindly find attached the full report.