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GlaxoSmithKline Pharmaceuticals Q1 net income increases

PBR Staff Writer Published 08 May 2013

GlaxoSmithKline Pharmaceuticals in India has reported a net income from operations of Rs6.37bn ($118.06m) for the first quarter ended 31 March 2013 compared to Rs6.28bn ($116.39m) for the first quarter ended 31 March 2012.

Net sales for the first quarter ended 31 March 2013 were Rs6.32bn ($117.13m) compared to Rs6.23bn ($115.46m) for the first quarter ended 31 March 2012.

GlaxoSmithKline Pharmaceuticals managing director Dr. Hasit Joshipura said the growth of the core pharmaceuticals business was pulled due to supply chain constraints in parts of the company's Nashik facility as well as some contract manufacturer sites.

"Growth was also impacted on account of supply constraints around vaccines," Joshipura added.

"The local supply situation is expected to normalise by the end of the second quarter."

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