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What Drove GlaxoSmithKline’s Consumer Healthcare Segment in Q2

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Aug. 14 2018, Updated 9:01 a.m. ET

Consumer Healthcare

GlaxoSmithKline’s (GSK) Consumer Healthcare segment includes its wellness, oral health, nutrition, and skin health products. In the second quarter, the segment’s revenue grew 3% YoY (year-over-year) at constant exchange rates to ~1.8 billion British pounds, as shown in the chart below. GlaxoSmithKline bought out Novartis’s (NVS) stake in the companies’ consumer healthcare joint venture on June 1.

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Product performance in Q2 2018

  • Nutrition revenue fell 7% YoY to 154 million pounds, as a result of 1% operating revenue growth and a 9% impact by foreign exchange.
  • Oral health revenue grew 1% YoY to 611 million pounds, as a result of 5% operating revenue growth and a 4% impact by foreign exchange.
  • Skin health revenue grew 3% YoY to 162 million pounds, as a result of 8% operating revenue growth and a 5% impact by foreign exchange.
  • Wellness revenue fell 3% YoY to 901 million pounds, as a result of 1% operating revenue growth and a 4% impact by foreign exchange.

Performance by region in the second quarter

  • US revenue was flat YoY at ~428 million pounds, as a result of 4% operating revenue growth and a 4% impact by foreign exchange.
  • European revenue fell 1% YoY to ~573 million pounds, as a result of a 1% fall in operating revenue and a marginal impact by foreign exchange.
  • International revenue fell 2% YoY to ~827 million pounds, as a result of 5% operating revenue growth and a 7% impact by foreign exchange.

The Invesco BLDRS Europe Select ADR ETF (ADRU) invests 2.9% of its holdings in GlaxoSmithKline, 6.2% in Novartis, 2.9% in AstraZeneca (AZN), and 2.4% in Novo Nordisk (NVO).

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