GlaxoSmithKline (GSK) warns that the profit in 2019 is probably not as high as last year. According to British pharmaceutical, adjusted earnings per share are expected to fall by around 5 to 9 percent due to the arrival of a generic counterpart of GSK’s asthma drug Advair.
Advair was a real blockbuster for GSK. But next time the company will have to start using other resources. Rival Mylan received approval last week to offer an Advair competitive agent in the United States.
In 2018 the turnover amounted to 30.8 billion pounds. That is converted more than 35 billion euros and 2 percent more than a year earlier. The adjusted profit per share increased by 7 percent to 119.4 pence. Below the line, the result almost doubled to 4 billion pounds.
GSK raised its profit forecast several times last year. In the last period of the year, the group also reported some major deals. That is how GSK Tesaro cashed in for 5.1 billion dollars. That is an American biopharmaceutical that, among other things, develops medicines for ovarian cancer.
Furthermore, the Health Food Drinks division, which is active in India, Bangladesh and other countries in the region, was sold to Unilever for 3.3 billion euros in cash and shares. In addition, GSK has chosen to merge its consumer health division into a new company with that of fellow company Pfizer. The combination of the well-known painkillers Advil and Panadol are brought together under one roof.