GlaxoSmithKline Results Announcement for the Fourth Quarter 2016

GlaxoSmithKline plc. (GSK) press release ------ According to the results report group sales grew 6% (5% pro-forma) to £27.9 billion with growth across all three businesses. New Pharmaceuticals and Vaccines sales contributed significantly to the growth with sales more than doubling to £4.5 billion. Pharmaceutical sales grew 3% ( +4% pro-forma) to £16.1 billion. This reflected the continued good performance of new HIV products Tivicay and Triumeq with combined sales for the year of £2.7 billion, up 82%. Total respiratory sales grew 2%, with the continued decline in Seretide/Advair sales offset by growth in the rest of the portfolio. New respiratory products generated sales of £1.05 billion. The Vaccines business grew 14% (+12% pro-forma) to £4.6 billion. This included Meningitis vaccines Bexsero and Menveo, which had combined sales of nearly £600 million (+96%), and flu vaccines sales of £414 million, up 38%. Consumer healthcare grew 9% (+5% pro-forma) to £7.2 billion with good contributions to growth from a number of power brands including Sensodyne, Voltaren and Panadol as well as growth from Flonase OTC. Core earnings per share was 102.4p (+12% CER), at the top end of our guidance for the year. Total earnings per share was 18.8p (2015: 174.3p). The year on year decline primarily reflected the comparison with the £9.2 billion profit from the sale of our marketed Oncology assets to Novartis reported in 2015 but also the impact in 2016 of charges arising from increases in the valuations of the liabilities for contingent consideration and the put options associated with increases in the Sterling value of the Group's HIV and Consumer Healthcare businesses, partly offset by improved performance and reduced restructuring costs. The Group has declared a full-year dividend of 80p (23p declared for Q4) and continues to expect to pay 80p for 2017. For more on GlzoSmithKline results announcement for the fourth quarter 2016 click on the picture below to read the entire report.