GlaxoSmithKline’s (GSK) Pharmaceuticals business includes various Immuno-inflammation products, HIV products, Respiratory products, and Established products. The Pharmaceuticals business segment reported revenues of ~4.0 billion pounds in 1Q18.
The above chart compares revenues for the Pharmaceuticals business since 1Q17. The pharmaceuticals business reported growth of 2% in operating revenues, driven by strong sales of the Triumeq and Tivicay the HIV products, strong sales of the Ellipta portfolio and the Nucala respiratory products, and the Benlysta immuno-inflammation product. The growth was partially offset by lower sales of Seretide/Advair, Epzicom/Kivexa, Ventolin, and Established products.
US markets reported a ~9% decline in revenues to ~1.6 billion pounds in 1Q18, including ~1% growth in operating revenues and a ~10% decrease due to the negative impact of foreign exchange. For US markets, growth in operating revenues was driven by strong sales of Tivicay and Triumeq in HIV products, Nucala and Ellipta in Respiratory products, and Benlysta in immuno-inflammation products.
European markets reported ~2% growth in revenues to ~1.0 billion pounds in 1Q18. The growth includes a 1% decline in operating revenues and a ~3% positive impact of foreign exchange. Revenues were mainly affected by lower sales of Seretide/Advair, Epzikom/Kivexa, Selzentry, and established products in 1Q18.
The international markets reported a 3% decline in revenues to ~1.4 billion in 1Q18, including ~5% growth in operating revenues, offset by a ~8% decrease in revenues due to the negative impact of foreign exchange. The growth in operating revenues was driven by strong sales of respiratory products including Ellipta products, Nucala, Flovent, and Ventolin, strong sales of HIV products including Triumeq and Tivicay, and strong sales of established pharmaceutical products including Augmentin, Avodart, partially offset by lower sales of other products during 1Q18.