GlaxoSmithKline’s (GSK) Pharmaceutical segment includes various products from different therapeutic areas including respiratory products, HIV products, immuno-inflammation products, and established products. During the second quarter of 2018, the Pharmaceutical segment reported a 1% increase in operating revenues to ~4.23 billion pounds.
The above chart shows the quarterly revenue trend for the Pharmaceutical segment since the first quarter of 2017.
The operating growth for the pharmaceutical segment was driven by strong sales of the following:
- immuno-inflammation product Benlysta
- HIV products including Tivicay, Triumeq, and Juluca
- Respiratory products including Nucala, Flixotide/Flovent, Avamys/Veramyst, and the Ellipta portfolio
The operating growth was offset by lower sales of drugs including Seretide/Advair, Epzicom/Kivexa, Ventolin, and established products during the quarter.
Performance in US markets
The revenues from the US markets decreased by ~5% to ~1.9 billion pounds during the second quarter of 2018, driven by the 5% negative impact of foreign exchange, and flat operating revenues.
The increased sales of HIV products including Juluca, Tivicay, and Triumeq; respiratory products including Ellipta, Flixovent/Flovent, and Nucala; and the immuno-inflammation drug Benlysta, were offset by lower sales of other HIV products, respiratory products, and established products during the quarter.
Performance in European Markets
The revenues from the European markets decreased by ~1% to ~984 million pounds during the second quarter of 2018, driven by a 1% decline in operating revenues, and the marginal impact of foreign exchange.
The lower sales of Epzikom/Kivexa, Seretide/Advair, Selzentry, and established products contributed towards the decline in operating revenues during the quarter.
Performance in international markets
The international markets reported revenues of ~1.4 billion pounds during the second quarter of 2018, a 1% decline in YoY revenues, driven by a 5% negative impact of foreign exchange, partially offset by a 4% increase in operating revenues.
The increased sales of HIV products including Triumeq and Tivicay; respiratory products including Ellipta products Nucala and Avamys/Veramyst; and established pharmaceutical products including Lamictal and Avodart were offset by lower sales of other products during the quarter.