Gsk Plc · LSE:GSK
Gsk — Shareholder Meeting (May 2008)
21 slides from Gsk's shareholder meeting presentation, May 2008
Slide 1: 2008 Annual General Meeting
2008 Annual General Meeting JP Garnier Chief Executive Officer
Slide 2: GSK Performance and return to shareholders
GSK Performance and return to shareholders 2007 EPS +10% growth 2007 Dividend 53p +10% Share £12bn over 2 years; buy- backs £3.5bn completed
Slide 3: 2008: The year unfolding
2008: The year unfolding … 1st Quarter Issues Avandia (£230m*) Generics (£249m*) * CER growth. Global Avandia decline; generic decline due to Coreg franchise, Zofran and Flonase (global sales)
Slide 4: Avandia US market share stabilising
Avandia US market share stabilising Recent retail weekly market share 5 TRx % share of OAD mkt 4 Switch/ 3 Add-on 2 1 0 8 8 8 8 8 8 8 8 8 -0 -0 -0 -0 -0 -0 0 0 0 b- b- b- pr pr ar ar ar ar e e e -M -M -M -A M A -F -F -F 4- 7- 11 21 28 14 29 15 22 Source: Verispan, VONA Switch Add-on represents a pat
Slide 5: 2008: The year unfolding - Growth Drivers
2008: The year unfolding … 1st Quarter Issues Growth Avandia Drivers (£230m*) Generics (£249m*) * CER growth. Global Avandia decline; generic decline due to Coreg franchise, Zofran and Flonase (global sales)
Slide 6: Strong pharma performances in first quarter
Strong pharma performances in first quarter Advair £954m +10% Vaccines £436m +10% Lamictal £290m +16% Valtrex £249m +9% Requip £94m +15% Avodart £85m +30% Lovaza £50m +72%* Boniva £49m +50% Arixtra £35m +70% Tykerb, Veramyst £32m >100% * Pro forma CER growth
Slide 7: Advair/Seretide – sales £954 million +10%
Advair/Seretide – sales £954 million +10% Reported sales and CER growth rate 1000 +12% +10% 900 Reported sales in £m +9% +12% +12% +11% +7% +12% +14% 800 700 600 500 1Q06 2Q06 3Q06 4Q06 1Q07 2Q07 3Q07 4Q07 1Q08 CER growth rates
Slide 8: US Vaccine sales £109m +34%
US Vaccine sales £109m +34% Current portfolio New opportunities ‘08 & ‘09 expanded age H5N1 pandemic
Slide 9: Strong new addition to US sales portfolio
Strong new addition to US sales portfolio Only FDA-approved prescription omega-3 product Dramatic reductions in triglycerides - in a very natural way A product with ‘No Warnings’
Slide 10: Consumer Healthcare continuing strong performance
Consumer Healthcare continuing strong performance 1Q08 sales £893 million +8% NRT -27% Nutritionals OTC £86m +18% +14% (excl. NRT) +12% £80m +19% Oralcare +8% £86m +19% CER growth rates
Slide 11: Slide 11
Slide 12: R&D: "life blood of the company"
R&D: “life blood of the company” Strong Strengthening pipeline Biopharm flow New CEDDs China R&D open for business
Slide 13: Evolution of the GSK R&D model
Evolution of the GSK R&D model Vaccines, Creation of MDCs Discovery successful for late-stage Performance CEDD ‘Gold Pass’ development Units proto-type used Expansion of CEDDs Late ‘01 ‘02 ‘03 ‘04 ‘05 ‘06 ‘07 ‘08 90’s New CEDD Creation of structure for CEEDD China drug discovery New R&D Biopharm Cen
Slide 14: Pipeline is delivering
Pipeline is delivering Up to 25 potential launches 33 Phase III / Filed# 2007-2009* 13 NCEs 5 Vaccines Phase II 7 PLEs Phase I # Key projects in Phase III/Filed * Includes launches which have taken place during 2007 and up to May2008
Slide 15: Significant number of new product contributions
Significant number of new product contributions 2007 Key launches - - New ACS indication - - Advair in Japan
Slide 16: Significant number of new product contributions
Significant number of new product contributions 2007 Key launches Just approved… For POI - - New ACS indication - - COPD exacerbations (CombAT study) Advair in Japan Prepandrix
Slide 17: Significant number of new product contributions
Significant number of new product contributions 2007 Key launches Just approved… …2008 pending For POI (EU) - - New ACS indication - - COPD exacerbations (CombAT study) Expanded age Advair in Japan Prepandrix
Slide 18: Leading the industry
Leading the industry Mid-to-late-stage pipeline products GSK Sanofi Pfizer Novartis Roche Bayer SGP AZ Wyeth Merck Tanabe Eli Lilly 0 30 60 90 Cowen Dec 07
Slide 19: ...with significant "reloadability"
…with significant “reloadability” Lehman Brothers PharmaPipelines (Sept 2007) Pharma Replacement Power – NPV GSK Merck BMS Novartis J&J Sanofi AZ Pfizer Wyeth Eli Lilly Roche SGP 0.0x 0.1x 0.2x 0.3x 0.4x 0.5x 0.6x 0.7x Lehman Bros Method: [NPV of recent launches (06-07) + NPV of pipeline opportuniti
Slide 20: 2008 Outlook for GSK
2008 Outlook for GSK GSK: Strong fundamentals Challenging and fast changing environment Need to continue to adjust the business model
Slide 21: GlaxoSmithKline
GlaxoSmithKline