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Performance of GlaxoSmithKline’s Vaccines Segment in 4Q17

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Mar. 19 2018, Published 12:26 p.m. ET

Vaccines segment

GlaxoSmithKline’s (GSK) Vaccines segment includes influenza vaccines, meningitis vaccines, shingles vaccines, and established vaccines.

The above chart compares revenues for the Vaccines segment since 1Q16.

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4Q17 performance

The Vaccines segment reported revenues of ~1.2 billion pounds during 4Q17, a ~6% growth compared to 4Q16. Growth was driven by a 9% growth in operating revenues, offset by a 3% negative impact of foreign exchange during 4Q17.

Meningitis vaccines reported revenues of ~201 million pounds during 4Q17, a ~17% growth compared to 4Q16. Growth includes a 20% increase in operating revenues, offset by a ~3% negative impact of foreign exchange. Bexsero sales increased ~17% to ~115 million pounds, while Menveo sales increased ~30% to ~65 million pounds during 4Q17.

Influenza vaccine Fluarix/FluLaval reported revenues of ~111 million pounds during 4Q17, a ~76% growth compared to 4Q16. Growth includes an ~86% increase in operating revenues, offset by a ~10% negative impact of foreign exchange.

Geographical performance

US markets reported revenues of ~374 million pounds during 4Q17, a ~6% growth compared to 4Q16. That includes a ~16% growth in operating revenues, offset by a 10% negative impact of foreign exchange during 4Q17. Growth was driven by strong sales of Fluarix/FluLaval, hepatitis vaccines, Menveo, and some established vaccines.

European markets reported revenues of ~386 million pounds during 4Q17, a ~4% growth compared to 4Q16. That includes a ~2% growth in operating revenues and a 2% positive impact of foreign exchange. Growth was driven by strong sales of Bexsero, Boostrix, Priorix/Varilrix, and Rotarix vaccines.

International markets, which excludes the United States and Europe, reported revenues of ~448 million pounds during 4Q17, an 8% growth compared to 4Q16. That includes a ~9% growth in operating revenues, offset by a ~1% negative impact of foreign exchange. Growth was driven by strong sales of Bexsero, Cervarix, hepatitis vaccines, influenza vaccines, and Rotarix.

The VanEck Vectors Pharmaceutical ETF (PPH) holds 5.1% of its total investments in GlaxoSmithKline (GSK), 4.9% in Mylan (MYL), 4.8% in Merck & Co. (MRK), and 5.6% in Teva Pharmaceutical (TEVA).

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