GSK Pharmas Q4 net profit at Rs.106 cr
The Dollar Business Bureau GlaxoSmithKline, a British pharma company, on Wednesday, reported Rs.105.98 crore of standalone net profit for Q4 ended March 2016. The London-based company’s net profit for the corresponding period in FY15 stood at Rs.102.85 crore. Founded in 2000 with the merging of Glaxo Wellcome and SmithKline Beecham, it became the 6th largest pharma company in the world. In a filing to BSE, GlaxoSmithKline revealed that the revenue generated from operations of the company for the considered quarter stood at Rs.692.97 cr, which was an increase from Rs.618.06 crore of income generated for the reviewed period in FY15. The net profit of GSK in FY16 was Rs.375 cr, while it was Rs.471.65 crore for FY15. The standalone income was calculated at ...
Indian drug major set to begin opiates business in Australia
The Dollar Business Bureau Sun Pharmaceutical Industries Ltd, on Tuesday, announced that it has begun the integration of its opiates business with its recently-acquired two manufacturing facilities in Australia. Sun Pharma had announced the acquisition of GlaxoSmithKline (GSK’s) opiates business in Australia on March 3 this year. “This acquisition fortifies Sun Pharma’s global position with two opiates manufacturing facilities in Port Fairy & Latrobe (both in Australia) complementing its current API (Active Pharmaceutical Ingredient) manufacturing footprint globally,” the company confirmed in its latest announcement. Following the acquisition, the Indian drug major will now offer a wide variety of opiates product, along with API portfolio and dosage formulations to generate chronic and acute prescription drugs. The acquisition will bring a specialised team to ...
