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GlaxoSmithKline’s Quarterly Revenue Trend in 4Q17

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Dec. 4 2020, Updated 10:52 a.m. ET

GlaxoSmithKline’s revenues

GlaxoSmithKline (GSK) reported revenues of 7.64 billion pounds during 4Q17, a ~1% growth compared to 7.59 billion pounds during 4Q16. That includes a ~4% growth in revenues at constant exchange rates, offset by a ~3% decrease in revenues due to the negative impact of foreign exchange.

The above chart compares the quarterly revenues for GlaxoSmithKline since 1Q16.

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Revenues for 4Q17

As we’ve already seen, GlaxoSmithKline surpassed Wall Street analysts’ estimates for EPS (earnings per share) and revenues for 4Q17 and reported EPS of 27.2 pence on revenues of 7.6 billion pounds.

GlaxoSmithKline has segregated its product portfolio into three segments: Pharmaceuticals, Vaccines, and Consumer Healthcare. In 4Q17, all these segments reported growth in revenues at constant exchange rates. However, foreign exchange had a negative impact on overall revenues.

For the Pharmaceuticals segment, 4Q17 revenue growth was driven by an increase in sales of new respiratory and HIV (human immunodeficiency virus) products, partially offset by lower sales of established respiratory products and established pharmaceutical products. For the Vaccines segment, 4Q17 revenue growth was driven by an increase in sales of meningitis and influenza vaccines, partially offset by lower sales of Infanrix and Pediarix. Revenue growth for the Consumer Healthcare segment was driven by an increase in sales of oral health products, pain management products, and nutrition products, partially offset by lower sales of Transderm Scop in the US market.

Overall revenues were impacted by the strengthening of the pound against all major currencies in 4Q17.

The BLDRS Developed Markets 100 ADR ETF (ADRD) holds 17.1% of its total assets in healthcare companies. It holds 2.1% in GlaxoSmithKline (GSK), 2% in AstraZeneca (AZN), 0.4% in Teva Pharmaceutical (TEVA), and 2.2% in Sanofi (SNY).

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