Glaxo Smith Kline: Novartis Deal to boost Market Share in Egypt

Glaxo Smith Kline (BIOC) said on Thursday that it expects the deal of buying the consumer health sector in Egypt from Novartis Pharma to support its sales in this sector.

The company added, in a release sent to the Egyptian Bourse that, this will be reflected in its medicine market share in Egypt with 0.5%.

Glaxo said that, it has paid EGP 12.462 million (US$ 1.655 million) through self-finance.

In 2014, Glaxo’s net profit reached EGP 64.1 million (US$ 8.4 million) opposed to EGP 76.8 million (US$ 10.1 million) in 2013

On the other hand, the unconsolidated net profit of Glaxo hits EGP 57.7 million compared to EGP 67.2 million in 2013.

Moreover, Glaxo’s capital is estimated at EGP 835.1 million (US$ 109.3 million) divided on 83.5 million shares; EGP10 for a share.