Pharmaceuticals
turnover in the quarter was £4,189 million, up 17% AER, 4%
CER. Respiratory sales grew 19% AER, 5% CER to
£1,683 million
, driven by the
Ellipta
portfolio and
Nucala
, while HIV sales
were up 35% AER, 19% CER to £985 million, driven by a
continued increase in market share for
Triumeq
and
Tivicay.
Sales of Established
Pharmaceuticals grew 4% AER, but declined 6% CER, after the impact
of recent divestments, which reduced overall Pharmaceuticals CER
growth by one percentage point and also impacted the contribution
from Emerging Markets.
In the
US, sales growth of 26% AER, 11% CER was driven by the HIV
portfolio and new Respiratory products. Europe sales grew 8% AER
but declined 2% CER reflecting continued generic competition to
Seretide
and the disposal
of the Romanian distribution business in Q4 2016. International
sales growth was impacted by the benefit to Q1 2016 of the
accelerated sale of inventory under supply agreements to Novartis
as well as the disposal of the thrombosis and anaesthesia
businesses to Aspen, which reduced growth in Emerging Markets to
14% AER, 4% CER. Sales in Japan grew 23% AER, 4% CER.
Respiratory
Total Respiratory portfolio sales were up 19% AER, 5% CER, with the
US up 21% AER, 6% CER, Europe up 10% AER but flat CER and
International up 22% AER, 6% CER.
Growth of the new
Respiratory products more than offset the decline in
Seretide/Advair
.
The new Respiratory products recorded combined sales of
£367
million in the quarter with sales of
Ellipta
products up 82% AER, 60% CER
driven by continued market share growth in all Regions and the
ongoing roll-out across Europe and International. Sales of
Nucala
were £59
million in the quarter including sales of £42 million in the
US, a Sterling increase of £36 million.
The
aggregate growth of the
Ellipta
products was primarily driven
by the contribution of the US, where sales were up 76% AER, 55%
CER. Total
Relvar/Breo
Ellipta
sales grew 84% AER, 61% CER with the US up 95% AER,
70% CER to £111 million. Sales of
Relvar/Breo Ellipta
in Europe grew 63%
AER, 47% CER, and in International 83% AER, 58% CER, helped by
ongoing launches, particularly in Emerging Markets.
Anoro Ellipta
sales grew 88% AER, 67%
CER to £62 million, reflecting market share gains in the US.
In the US,
Ellipta
products
Breo
,
Anoro
and
Incruse
all continued to grow market
share during the first quarter, but the reported sales growth rates
for these products were impacted by inventory reductions in the
channel and unfavourable payer rebate adjustments.
Seretide/Advair
sales were flat at actual rates, but
declined 12% CER to £752 million. Sales in the US were also
flat at actual rates but declined 12% CER (7% volume decline and a
5% negative impact of price). Payer rebate adjustments related to
prior periods favourably impacted sales in this period. In Europe,
Seretide
sales were down 9%
AER, 17% CER to £206 million (10% volume decline and a 7%
negative impact of price), reflecting continued competition from
generics and the transition of the Respiratory portfolio to newer
products. In International, sales of
Seretide
were up 10% AER but down 4%
CER, at £207 million, reflecting increased generic competition
and the transition to newer Respiratory products.
Ventolin
sales grew 20% AER, 7% CER to £214 million,
primarily reflecting growth in the US.
Flixotide/ Flovent
sales were up 7%
AER, but decreased 5% CER to £164 million, with growth in
International only partly offsetting the decline in the
US.
The
overall impact on growth of payer rebate adjustments related to
prior periods across the US Respiratory portfolio was broadly
neutral.
HIV
HIV
sales increased 35% AER, 19% CER to £985 million in the
quarter, with the US up 43% AER, 25% CER, Europe up 17% AER, 5% CER
and International up 47% AER, 27% CER. The growth in all three
regions was driven by the continued increase in market share for
Triumeq
and
Tivicay
, with both products now
well-established in most major markets and continuing to roll-out
across International. The ongoing increase in patient numbers for
both
Triumeq
and
Tivicay
resulted in sales
of £539 million and £301 million, respectively, in the
quarter.
Epzicom/Kivexa
sales declined 49% AER, 55% CER to £78
million, reflecting the continued increase in generic competition
since Q3 2016.
Selzentry
sales increased 27% AER, 13% CER to £38 million helped by
favourable inventory movements in the US.
Immuno-inflammation
Benlysta
sales grew 40% AER, 22% CER to £91 million,
driven by a strong US performance reflecting both market share
gains and favourable inventory movements.
Established
Pharmaceuticals
Sales
of Established Pharmaceuticals in the quarter were £1,429
million, up 4% AER, but down 6% CER impacted by the comparison to
the benefit in Q1 2016 of the accelerated sale of inventory under
supply agreements to Novartis as well as the disposals of the
Romanian distribution business in Q4 2016 and the thrombosis and
anaesthesia businesses to Aspen during the quarter. Excluding the
impact of the disposals, Established Pharmaceuticals grew 8% AER,
but declined 3% CER.
The
Avodart
franchise was up
21% AER, 6% CER to £160 million primarily due to a strong
performance in Japan following supply interruptions in
2016.
Established
products sales grew 5% AER, but fell 5% CER to £640 million,
primarily reflecting a decline in Emerging Markets, including the
impact of competitive pressures on
Zeffix
in China.
Dermatology
sales grew 18% AER, 5% CER to £113 million, through improved
supply, while
Augmentin
sales grew 12% AER, 4% CER to £155 million.
Sales
of products for Rare diseases grew 18% AER, 4% CER to £110
million.
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