At an analyst meet recently, Glaxos managing director S Kalyanasundaram said We aim to launch two nutritional, one anti-histamine and one dermatological drug this year. The sales target fo each of these drugs by the third year of introduction is Rs 10 crore, and Rs 25 crore each by the end of five years. We expect drugs launched after 2000 to account for 35-40 per cent of our revenues by 2005.
A spokesperson for the company told FE that about two-and-a-half years ago we conducted a detailed analysis of all our brands and sold off about 65 that were not performing to expectations or were outdated. Of the balance 200, 30 have been identified as power brands which can make a healthy contribution to the balance sheet and have a substantial product life left. The efforts have paid off by bolstering our bottomline over the last 18 months.
The spokesperson also confirmed that the company would be launching a vaccine this year. Analysts reports have pointed out to the 40 per cent increase in sales of Hepatitis B vaccine, which also accounts for 70 per cent of the total vaccine business of the company. Glaxo has 35 vaccines, of which seven are in Phase III clinical studies according to analysts. It has launched eight vaccines in the past five years.
Glaxo closed financial year 2002 with total income of Rs 1,190.30 crore and a net profit of Rs 98.06 crore. While sales went up five per cent over those in 2001, profit increased substantially by 123 per cent.