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Dolutegravir Franchise to Drive GlaxoSmithKline’s HIV Portfolio

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Jan. 31 2018, Updated 7:35 a.m. ET

GlaxoSmithKline’s HIV portfolio revenues

In 3Q17, GlaxoSmithKline (GSK) reported revenues close to 1.1 billion pounds from the sale of its human immunodeficiency virus (or HIV) products, which is year-over-year (or YoY) growth of 16% on a reported basis and 13% on a constant exchange rate (or CER). The company witnessed sales worth 681 million pounds for its HIV franchise in the US market in 3Q17, which is YoY growth of 21% on a reported basis and 18% on CER basis. GlaxoSmithKline earned revenues close to 283 million pounds from the sale of HIV products in Europe in 3Q17, which is a YoY rise of 4% on a reported basis and a drop of 1% on a CER basis. Further, in 3Q17, the company witnessed HIV segment sales close to 129 million pounds in international markets, which is YoY growth of 24% on a reported basis and a CER basis.

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GlaxoSmithKline’s HIV franchise earned revenues close to 3.2 billion pounds in the first nine months of 2017, which is 26% YoY growth on a reported basis and 16% growth on a CER basis. Revenues from the US market were close to 2.0 billion pounds, a YoY rise of 32% on a reported basis and 22% on a CER basis. The company also witnessed HIV franchise sales worth 822 million pounds in the European market, which is YoY growth of 10% on a reported basis and 1% YoY growth on a CER basis. GlaxoSmithKline also earned revenues close to 389 million pounds from the sale of its HIV products in international markets in the first nine months of 2017, which is a YoY rise of 36% on a reported basis and 26% on a CER basis. Notably, GlaxoSmithKline makes up about 5.0% of the Pharmaceutical ETF’s (PPH) total portfolio holdings.

Dolutegravir as core agent

Since 2013, Dolutegravir has been added in multiple guidelines issued by governments across the world, which has played a vital role in boosting sales of Triumeq, the fixed dose combination of Abacavir/Dolutegravir/Lamivudine, and Tivicay, the brand name for dolutegravir. The Dolutegravir franchise is expected to enable ViiV Healthcare, a joint venture of GlaxoSmithKline, Pfizer (PFE), and Shinogi, to compete effectively with other HIV players such as Gilead Sciences (GILD) and Johnson & Johnson (JNJ).

In the next article, we’ll discuss growth prospects for Triumeq and Tivicay in greater detail.

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