Transcript

GlaxoSmithKline Pharmaceuticals Limited GSK House, Dr. Annie Besant Road, Worli, Mumbai - 400 030 Tel No: +91 22 2495 9595 Fax No: +91 22 2495 9494 Web: www.gsk-india.com Email: askus@gsk.com 6th August 2026 BSE LIMITED THE NATIONAL STOCK EXCHANGE OF INDIA LIMITED Phiroze Jeejeebhoy Towers Exchange Plaza, 5th Floor, Plot No. C/1, G Block Dalal Street Bandra-Kurla Complex, Bandra (East) Mumbai - 400001 Mumbai - 400051 Dear Sirs, Subject: Outcome of Schedule of Analyst / Institutional Investor Meetings Pursuant to Regulation 30 read with Part A of Schedule Ill of SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, please find enclosed herewith the transcript link uploaded on the website at https:https://india-pharma.gsk.com/en-in/investors/analyst-meets/. Thanking you, Yours faithfully For GlaxoSmithKline Pharmaceuticals Limited Ajay Nadkarni Vice President – Administration, Real Estate & Company Secretary CIN: L24239MH1924PLC001151 “GlaxoSmithKline Pharmaceuticals Limited Q1 FY 2027 Earnings Call” August 03, 2026 MANAGEMENT: MR. BHUSHAN AKSHIKAR – MANAGING DIRECTOR – GLAXOSMITHKLINE PHARMACEUTICALS LIMITED MR. RONOJIT BISWAS – CHIEF FINANCIAL OFFICER – GLAXOSMITHKLINE PHARMACEUTICALS LIMITED Page 1 of 17 GlaxoSmithKline Pharmaceuticals Limited August 03, 2026 Moderator: Hi, good evening, everyone. This is Dorwin Dias, your moderator from Chorus Call. Welcome to the GlaxoSmithKline Pharmaceuticals Limited Q1 FY 2027 Earnings Call. From the management at GlaxoSmithKline Pharmaceuticals Limited, we have Mr. Bhushan Akshikar, Managing Director, GlaxoSmithKline Pharmaceuticals Limited; and Mr. Rononjit Biswas, Chief Financial Officer, GlaxoSmithKline Pharmaceuticals Limited. By participating in this event, you consent to the recording, distribution, and publication of this event. Kindly note that this call is meant for investors and analysts only. All participant lines will be in the listen-only mode, and there will be an opportunity for you to ask questions after the presentation from the management concludes. I now hand the conference over to Mr. Bhushan Akshikar. Thank you, and over to you, sir. Bhushan Akshikar: Thank you very much, Dorwin. And as always, I once again thank each one of you for joining us on this call. Just over a month ago, we had our 101st AGM. And today, we've again got together as is, for the last few quarters, we've just finished our Q1 results. We had our board meeting, and here we are to share the updates with each one of you. In terms of the first slide, just to restate our priorities. As many of you may have followed, GSK globally is further strengthening its resolve to evolve as a biopharmaceutical major, and in this pursuit, we have three clearly identified priorities for us, both as a global organization, but more importantly, as a locally listed entity here in India. And those remain anchored around growing our top line relentlessly, in terms of the focus on growing the top line growth. The second one is accelerating our pipeline, how and how quickly can we launch our innovative assets in markets like India from the global pipeline. And third, but most important, simplification in terms of really using not only technology, but challenging some of the processes so that we are able to pull out more inefficiencies from the system. So those three remain the guiding stars for us in terms of our overall priorities. With that, we'll get straight into how the external performance was. So externally, the first quarter for the industry grew at roughly about 13.5%, and after a long time, we've seen this kind of a sustained double-digit growth. What's more heartening is this growth, as you would see in the first table on the left-hand side chart, was fairly balanced between volume, price, and new introductions. After a long time, the pharma industry in India has seen almost a 2% volume growth as per the first quarter. I think what was also relevant is the mix between acute and chronic. As many of you know, we have our portfolio heavily skewed towards the acute side. However, the forays that we've been making in the last three, four years in terms of really launching new assets which play out in the chronic segment have also played to our strength. So I think the balanced growth that we've seen externally in terms of both acute and chronic has played to our advantage. In terms of the therapy areas, we all know the top therapy areas in the Indian pharmaceutical industry, now while they may be, we may be conspicuous by our absence in some of the big Page 2 of 17 GlaxoSmithKline Pharmaceuticals Limited August 03, 2026 therapy areas like cardiology or diabetes, however, the therapy areas where we have a significant presence including anti-infectives, pain, respiratory, nutritional supplements, vitamins, dermatologicals, as well as hormones and vaccines have all grown double digit. And I think that's, that's been a great start of the financial year. In terms of our represented market, clearly where GSK operates across all the therapy areas as well as the sub-therapies, we've grown better than the external market. So all in all, it's been a balanced quarter and a great start for us in Q1. What's more important is this growth has been fairly balanced for us, both in terms of geographies. So our growth has been balanced both from the metros and the Tier 1 cities, as well as the Tier 2 and the rural markets where we have continued presence and in all the, all types of geographies. And last but not the least is the balance from specialists, super specialists, and general practitioners. So I think all three have helped GSK sustain the momentum and grow better than the market for the first quarter. Can we move to the next slide? Specifically moving to the comparative performance for our three businesses. As we all know, we are one of the most comprehensively diversified healthcare company, operating at both ends of the spectrum in terms of disease prevention with vaccines both in pediatric as well as adult segments, and then a large general medicines business which touches everything from the primary care setting with products like Calpol, right up to quasi-specialists like dermatology, and of course, the specialty area on the last which is really the unlocking that we are doing with the accelerated launches of products from the global pipeline. So if you see all three pillars, we've had a comparative performance, strong comparative performance. So if you look at the syndicated market research done by IQVIA for Q1, all the brands we have in the Gen Med business have grown better than the market. Our EIs are 105, 106 across the board. And this just tells you the strength of the business, underlying business has been, quite robust. So that's the clear turnaround on the Gen Med side. On the vaccines front, except for a couple of vaccines where we've had a phasing issue in terms of availability, which we will correct in the, in Q2. Overall, the vaccines business has held its market leadership in the private segment, and as far as the adult vaccine segment where all the hard work that we've been doing over the last two, three years in terms of building the adult vaccination ecosystem is now coming to roost. We, we had a significant first quarter for Shingrix with not just the number of prescribers, but the brand growing by almost 60%-65% for the quarter alone. So that's the vaccines business for us. And the third, which is the newest growth platform over the last two, three years is the specialty. One end of the spectrum is the respiratory portfolio, both Nucala and Trelegy Ellipta, two innovative assets that we have from our global pipeline have continued to make significant impact in terms of new patient uptake. And, and that's really helped us galvanize the support from respiratory physicians. The last one, almost a year ago, we launched, last year's in Q2 we launched around September we launched our oncology portfolio. And [Showing first 8,000 characters — download PDF for full document]