Gsk Plc · LSE:GSK
Gsk — GlaxoSmithKline — Q3 2001 Earnings Presentation
15 slides from Gsk's earnings presentation, Oct 23, 2001
Slide 1: Third Quarter Results Presentation to Investors/Analysts
Third Quarter Results Presentation to Investors/Analysts 23rd October 2001
Slide 2: Third Quarter Financial Results
Third Quarter Financial Results Q301 % change Business Performance £m CER Sterling Sales 4,994 12 13 - Pharmaceuticals 4,184 13* - Consumer (incl. Block) 810 27 Profit before tax 1,349 16 17 Earnings per ordinary share 15.8p 18 20 Earnings per ADR $0.46 18 * % change excludes products divested in 20
Slide 3: Financial Results
a Financial Results
Slide 4: Q3 Business Performance Results
Q3 Business Performance Results Q301 Q300 % change £m £m CER Sterling Sales 4,994 4,429 12 13 Trading profit 1,416 1,184 18 20 Other operating (expense)/income (59) 6 Associate profits 19 23 Net interest expense (27) (59) Profit before tax 1,349 1,154 16 17 Tax rate 26.7% 27.4 % Earnings 960 802 19
Slide 5: Performance by Operating Division
Performance by Operating Division Q301 Q300 Growth £m £m CER % Sales Pharmaceuticals Continuing 4,184 3,663 52 13 Total (incl. divested products) 4,184 3,786 10 Consumer Healthcare Continuing 663 639 4 Total (incl. Block and divested prods.) 810 643 27 Trading Profit Total Pharmaceuticals 1,272 1,07
Slide 6: Trading Profit Analysis
Trading Profit Analysis Q301 Q300 Change £m £m CER% Sales 4,994 4,429 12 Cost of goods 1,071 919 16 21.4% 20.7% S,G&A 1,867 1,690 9 37.4% 38.2% R&D 640 636 (1) 12.8% 14.4% Trading profit 1,416 1,184 18 28.4% 26.7% 6 % % in in italics italics are are % % of of sales sales
Slide 7: Cash Flow / Net Debt
Cash Flow / Net Debt Q301 Q300 £m £m Operating cash inflow 1,994 1,280 Merger and restructuring costs (296) (110) Taxation and interest paid (427) (281) Capital expenditure (258) (244) Purchase of own shares/options exercised (283) 40 Dividends paid (547) (163) Other 119 27 Decrease in net debt 302
Slide 8: Pharmaceuticals - Sales by Region
Pharmaceuticals - Sales by Region % growth - three months ended 30th September 2001 £867m % share (+18%) USA 54 Europe 25 £2,246m RoW 21 (+14%) £1,071m (+8%) Total sales £4,184m increase of 13% 8
Slide 9: Pharmaceuticals - Sales by Therapy Area
Pharmaceuticals - Sales by Therapy Area % growth - three months ended 30th September 2001 £396m (-6%) £983m % share £217m (+20%) (+8%) CNS 23 £241m Respiratory 21 (+9%) Anti-Bacterials 13 £400m (+24%) Anti-Virals 13 £871m Metabolic/GI 10 (+36%) £533m Vaccines 6 (+15%) Oncology 5 £543m (0%) Others 9
Slide 10: Central Nervous System
Central Nervous System Three months ended 30th September 2001 World USA Europe RoW % % % % £m chg £m chg £m chg £m chg Seroxat/Paxil 439 0 293 (10) 89 12 57 55 Imigran/Imitrex 198 9 151 6 32 8 15 74 Wellbutrin 168 40 164 40 - - 4 34 Lamictal 89 23 45 27 34 20 10 20 Total CNS 983 8 702 5 183 5 98 43
Slide 11: Anxiety Market – Paxil Growth Opportunity
Anxiety Market – Paxil Growth Opportunity 100 90 SSRI/SNRI 90 Millions of Retail TRxs (MAT July 01) All Others 80 76% 72 70 29% 11% 33% 60 Growth Growth vs Prior 50 vs Prior Year 40 Year 67% 30 20 10 24% 0 Antidepressants* Chronic Anxiolytic Source: Scott Levin SPA and PDDA Factored Retail TRx (US M
Slide 12: Anti-Viral
Anti-Viral Three months ended 30th September 2001 World USA Europe RoW % % % % £m chg £m chg £m chg £m chg HIV 340 16 203 11 97 17 40 48 Valtrex 89 54 55 39 15 20 19 >100 Zovirax 65 (22) 9 4 22 (11) 34 (31) Zeffix 27 49 2 42 3 55 22 49 Total Anti-Viral 533 15 277 16 141 12 115 18 % change is at cons
Slide 13: Anti-Bacterial
Anti-Bacterial Three months ended 30th September 2001 World USA Europe RoW % % % % £m chg £m chg £m chg £m chg Augmentin 278 (1) 168 0 67 (1) 43 (5) Other Anti-Bacterial 265 1 90 7 80 3 95 (4) Total Anti-Bacterial 543 0 258 2 147 1 138 (5) 13 % change is at constant exchange rates
Slide 14: Vaccines
Vaccines Three months ended 30th September 2001 World USA Europe RoW % % % % £m chg £m chg £m chg £m chg Hepatitis vaccines 110 (8) 45 (9) 46 (4) 19 (14) Infanrix 54 28 21 82 23 (8) 10 57 Other vaccines 77 31 2 (67) 34 16 41 53 Total Vaccines 241 9 68 6 103 1 70 28 14 % change is at constant exchang
Slide 15: Respiratory
Respiratory Three months ended 30th September 2001 World USA Europe RoW % % % % £m chg £m chg £m chg £m chg Seretide/Advair 240 >100 98 >100 120 >100 22 >100 Flixotide/Flovent 219 7 122 22 57 (19) 40 15 Serevent 154 7 96 20 49 (12) 9 2 Key asthma prd’s 613 53 316 74 226 35 71 37 Flixonase/Flonase 11