GlaxoSmithKline Pharma Q1 net profit rises 12% at Rs 279 cr

New Delhi: GlaxoSmithKline Pharmaceuticals on Friday said its consolidated net profit increased 12 per cent year-on-year to Rs 279 crore for the June quarter.

The drug firm had reported a net profit of Rs 249 crore for the June quarter of the last fiscal.

Total income declined marginally to Rs 849 crore for the first quarter as compared with Rs 850 crore in the year-ago period, GlaxoSmithKline Pharmaceuticals said in a regulatory filing.

"GSK continues to invest in its innovative portfolio and is on track to launch the much-awaited oncology assets, Jemperli and Zejula. By launching these assets in India, GSK is addressing a critical unmet need amid a rising cancer burden and limited access to advanced therapies," GlaxoSmithKline Pharmaceuticals MD Bhushan Akshikar said.

The company continues to invest in its innovative portfolio and is on track to launch the much-awaited oncology assets, Jemperli and Zejula, he added.

By launching these assets in India, GSK is addressing a critical unmet need amid a rising cancer burden and limited access to advanced therapies, Akshikar noted.

Jemperli (dostarlimab) is an immuno-oncology treatment for second-line dMMR endometrial cancer and Zejula (niraparib), is a PARP inhibitor indicated for advanced and recurrent ovarian cancer. Shares of the company were trading 8.22 per cent down at Rs 2,898.40 apiece on BSE.