Results first quarter 2009 GlaxoSmithKline 22/04/2009 13:58

GlaxoSmithKline BV

Issued: Wednesday, 22nd April 2009, London, U.K.
Results announcement for the first quarter 2009

GSK delivers Q1 EPS of 26.3p before major restructuring(see page 6) and increased dividend of 14p

Summary

- EPS before major restructuring 26.3p, down 28% CER, up 3% in sterling terms
- Q1 profit performance adversely impacted by gross margin decline due to US generic competition, one-off R? intangible write-offs and phasing of SG? costs
- GBP 5.6 billion pharmaceutical sales (-6%); US sales were GBP 2.3 billion (-22%) primarily due to continued generic competition. Strong growth in Emerging Markets (+18%) Asia Pacific/Japan (+12%) and Europe (+7%)

- GBP 1.1 billion Consumer Healthcare sales (+4%) with 12 new product launches in Q1 and pan-European launch of alli now underway

- Vaccine sales of GBP 625 million (+18%); portfolio further strengthened with recent approval of Synflorix in Europe and Cervarix data filed in the USA
- Announced acquisition of specialist dermatology company Stiefel to increase GSK's growth and diversification with significant revenue and synergy opportunities - completion expected Q3 2009

- Definitive step taken to re-energise HIV business with creation of new specialist company with industry-leading pipeline - completion expected Q4 2009
- 5 targeted 'bolt-on' transactions to strengthen and diversify Emerging Markets and Consumer Healthcare businesses in last 6 months

- 4 new pharmaceutical product filings in 2009; GSK has over 10 new products filed with regulators in the USA, Europe and Japan

- Progressive dividend policy continues with Q1 dividend of 14p (+8%)

See attachment or gsk.com for total press release.

Over GlaxoSmithKline
GlaxoSmithKline behoort tot de leidende, innovatieve farmaceutische en healthcare bedrijven in de wereld. Het is de bedrijfsmissie van GSK om de kwaliteit van leven van mensen te verbeteren door hen in staat te stellen een actiever leven te leiden, zich beter te voelen en langer te leven.

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