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HDFC Securities Retail Research Report
GlaxoSmithKline Pharmaceuticals Ltd. is one of the leading multi national pharma companies with a market share of ~3% in the Indian Pharma market.
GSK Pharma is the market leader in most of the therapeutic categories in which it operates, its leading brands include Augmentin (number one anti-infective brand), Calpol, Betnovate, T Bact, Betnesol, Ceftum, Cobadex CZS, Seretide, Phexin, Eltroxin and Neosporin.
In Indian private channel vaccine market the company holds dominant position with Synflorix being second largest vaccine brand (annual sales of Rs 200 crore).
Overall, GSK Pharma markets nine vaccines in the domestic market and this contributed ~24% of sales in FY21.
Its FY21 performance was optically muted, mainly due to high Zinetac (Ranitidine) business in FY20 which fell in FY21 due to global recall.
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