GlaxoSmithKline Pharmaceuticals

“Our internal modelling suggests about three fifths of that growth, we will be able to -- we should be able to deliver from our current established products organically. So, that means that this portfolio needs to grow in the high single digit.”

“And the balance two fifth of the growth is going to come from our very promising pipeline.”

“On the second question in terms of margins, we expect our simple modelling expectation is we should be able to maintain our current margin profile that we have today.”

“our aspiration is and continued objective is to deliver a double digit growth given not just the equity that we enjoy with our established portfolio, but more importantly, the new launches that we see.”

“These are now contributing, 7% to overall revenues. So, this was just about 3% same quarter last year, so it's more than doubled in contribution.”

“And, a quarter of our overall growth now comes from this innovation portfolio in a matter of 12 to 18 months.”

“In adult vaccines, we saw Shingrix, doubling its sales versus the same quarter last year.”

“I think this quarter was one of the best quarters in terms of impacting lives of almost 300 patients on a quarterly basis, with these two assets.”

“I won’t expect these base businesses to still continue to grow by 15% and 20% in the next three to five years.”

“But importantly, we are seeing good volume growth, mid to high single-digit volume growth on our established products business.”

“So, the market grew at about 14%, 14.5% overall.”

“particularly AI, which is the anti-infectives, saw a slightly subdued growth better than the last couple of quarters, but at 7.1%, it was almost half of what the industry delivered at 14%.”

“the volume growth for our underlying Gen Meds business, and I'm not just talking Calpol is a healthy 5% to 7%”

“And at any given point of time, we have about 8,000 to 10,000 patients who are on treatment for second line and third line in multiple myeloma.”

“So, for quarter two, our EBITDA was at INR400 crores and growing 20%. And our margins are maintained at the 34%, mark.”

“So, our gross margins are, there is a valuation of about 120, basis points. And this is really the impact of rupee appreciation and there's some oil-linked, inflation on our raw materials, which is having some impact.”

“Importantly, we are and we'll continue to take measures to improve our cost of goods, you know, it'll use levers such as, competitive price increases as we have done in the past.”

“Now, notably, you'll see the adverse gross margin impact is offset by a better, spend ratio, so, which improved by roughly 1 percentage point”

“I think the latter, Mr. Lakhani, so it's largely been oil led and the foreign exchange.”

“we remain zero debt, we and we close the quarter with, INR2,200 crores of cash on the balance sheet.”

“Our cash conversion ratio runs at, is running at 98%.”

“We're very excited about, our launch of Blenrep, which is going to happen in the December quarter.”

“We have an extensive array of launches coming up in the next 24 to 36 months.”

“the first potential functional cure for chronic hepatitis B in the form of Hibsago which has just got the US FDA approval as well as the Japanese approval. And just this week we have the approval in Canada.”

“we're just going to get into the big area of hepatology with the launch of the Hibsago, is Bepirovirsen in the coming 12 months. We should have the launch hopefully in India.”

“In Q4, we are pursuing more indications. It's a question of whether we get the approach in the right time.”

“And so, when we strip that out, the repeatable growth is about 12% to 13%.”

“So again, if you strip out the, tailwinds which we talked about, the underlying EBITDA growth was also around 13%, still strong and double-digit.”

“We received an income tax refund, and there was an interest component on the refund which is of about INR42 crores, which is inbuilt into the PAT”

“There were tailwinds which have given us that incremental 6% to 7% incremental delta. But our underlying growth, even otherwise, this quarter was in the range of 12% to 13%.”

“And as Bhushan mentioned, this is, the highest quarter of sales we've, recorded. To be clear, there were a few tailwinds, there's a low base effect. There were some supply chain disruptions, you know, there was a GST 2.0, which has helped.”

“So, we expect the geopolitical situation to have an impact for a few quarters until the oil prices stabilize.”

“we did have some supply challenges globally for a couple of our vaccines, but I think as before we closed out the quarter, we were able to service that demand”

“I think in terms of how we've operated, we've been within that band of 30% margin, which has been announced anyway.”

“It has not had any impact for us because our prices remain the same.”

“So, for us, as we, not only for the existing business, but the products that we will launch in the coming two quarters of this financial year, we don't see that impacting or even ahead of time.”

“revenues during the September quarter increased 21% versus the previous year quarter to INR1,180 crores.”

“Moving to PAT, profit after tax for the quarter grew 33%.”

“Our earnings per share for the quarter was, INR19.76 per share, which is up 32% versus last year.”

“So, just to touch on, the first half of the year, what this means is revenue growth was 18%, EBITDA growth was also 18%, and PAT growth was 29%.”

“As we speak today, we have more than 30 pivotal Phase 3A, 3B, global clinical trials happening in India of our assets.”