GSK publishes historical restated financial info

Issued: 28 March 2012, London, U.K.

GSK publishes historical quarterly restated financial information.

As previously announced, for 2012 GlaxoSmithKline (GSK) will adopt a revised presentation for the analysis of its Pharmaceuticals and Vaccines turnover by product and therapeutic area that identifies revenues from Emerging Markets/Asia Pacific (excluding Australasia) ('EMAP') as a new segment. This replaces the separate Emerging Markets and Asia Pacific segments reported in 2011. Australasia will now be reported in Rest of World, along with Canada, Puerto Rico and other central revenues.

The revised reporting approach is in line with International Financial Reporting Standards (IFRS) that require companies' segment reporting to be representative of the way in which performance is reported internally.

In addition, the classification of certain products has been changed in 2012, including:

·;

The transfer of the OTC dermatology brands acquired with the Stiefel business from the Pharmaceuticals and Vaccines business to the Consumer Healthcare business in the USA and Europe;

·;

The creation of a Rare diseases therapy area;

·;

The transfer of Zovirax from the Dermatology therapy area to the Anti-viral therapy area; and

·;

Consumer Healthcare will be reported in four categories: Total wellness, Oral care, Nutrition and Skin health.

In order to assist future comparability with historical data, this release includes the Pharmaceuticals and Vaccines turnover by product for each quarter since the period ended 31 March 2011, and for the full years 2011 and 2010, presented on a like-for-like basis with the classifications that will be reported in 2012.

On 1 December 2011, GSK announced the introduction of core measures for both operating profit and earnings per share to report the performance of the Group with effect from Q1 2012. The primary purpose is to provide a clearer view of the underlying performance of GSK's core business by removing the volatility created by various items such as the impairment of intangible assets, legal charges and asset disposal gains and losses. As previously announced, the adjustments to be made in arriving at core will be as follows:

·;

Amortisation and impairment of intangible assets (excluding computer software) and goodwill;

·;

Major restructuring costs;

·;

Legal charges;

·;

Other operating income and disposal of associates, products and businesses;

·;

Acquisition accounting adjustments for material acquisitions; and

·;

Tax on adjustments.

It was also announced that with effect from Q1 2012, charges for amortisation and impairment of intangible assets related to marketed products will be reported in cost of sales (previously these were included in SG&A). In order to assist future comparability with historical data, this release includes reconciliations of total results restated (for the above referenced change in the presentation of amortisation and impairment of intangible assets related to marketed products) to core earnings for each quarter since the period ended 31 March 2011 and for the full years 2011 and 2010.

None of the restatements noted above has any impact on earnings per share either for total results or for core earnings.

An Excel version of this data is available on www.gsk.com.

GlaxoSmithKline - one of the world's leading research-based pharmaceutical and healthcare companies - is committed to improving the quality of human life by enabling people to do more, feel better and live longer. For further information please visit www.gsk.com

GlaxoSmithKline Enquiries:

UK Media enquiries:

David Mawdsley

+44 (0) 20 8047 5502

(London)

Stephen Rea

+44 (0) 20 8047 5502

(London)

Sarah Spencer

+44 (0) 20 8047 5502

(London)

David Daley

+44 (0) 20 8047 5502

(London)

US Media enquiries:

Kevin Colgan

+1 919 483 2839

(North Carolina)

Melinda Stubbee

+1 919 483 2839

(North Carolina)

Sarah Alspach

+1 919 483 2839

(Washington, DC)

Jennifer Armstrong

+1 919 483 2839

(Philadelphia)

Analyst/Investor enquiries:

Sally Ferguson

+44 (0) 20 8047 5543

(London)

Tom Curry

+1 215 751 5419

(Philadelphia)

Gary Davies

+44 (0) 20 8047 5503

(London)

Jeff McLaughlin

+1 215 751 7002

(Philadelphia)

Ziba Shamsi

+44 (0) 20 8047 3289

(London)

CER growth

In order to illustrate underlying performance, it is the Group's practice to discuss its results in terms of constant exchange rate (CER) growth. This represents growth calculated as if the exchange rates used to determine the results of overseas companies in Sterling had remained unchanged from those used in the comparative period.

Brand names and partner acknowledgements

Brand names appearing in italics throughout this document are trademarks of GSK or associated companies or used under licence by the Group.

This Announcement does not constitute statutory accounts of the Group within the meaning of sections 434(3) and 435(3) of the Companies Act 2006. The information for 2011 and 2010 has been derived from the full Group accounts published in the Annual Reports 2010 and 2011.

Cautionary statement regarding forward-looking statements

Under the safe harbor provisions of the U.S. Private Securities Litigation Reform Act of 1995, GSK cautions investors that any forward-looking statements or projections made by GSK, including those made in this announcement, are subject to risks and uncertainties that may cause actual results to differ materially from those projected. Factors that may affect GSK' s operations are described under 'Risk factors' in the 'Financial review & risk' section in the company's Annual Report 2011 included as exhibit 15.2 to the company's Annual Report on Form 20-F for 2011.

Registered in England & Wales:

No. 3888792

Registered Office:

980 Great West Road

Brentford, Middlesex

TW8 9GS

Pharmaceuticals and Vaccines turnover

Twelve months ended 31 December 2011

Total 

USA 

Europe 

EMAP 

Rest of World 

---------------------------- 

---------------------------- 

---------------------------- 

---------------------------- 

---------------------------- 

£m 

CER%

£m 

CER%

£m 

CER%

£m 

CER%

£m 

CER%

----------

----------

----------

----------

----------

----------

----------

----------

----------

----------

Respiratory

7,298

2 

3,301

1 

2,115 

(2)

779

9 

1,103

10 

Avamys/Veramyst

241

24 

62

(6)

65 

14 

54

41 

60

92 

Flixonase/Flonase

138

(17)

7

(78)

37 

(8)

49

11 

45

(2)

Flixotide/Flovent

813

3 

447

8 

151 

(6)

52

7 

163

(4)

Seretide/Advair

5,061

- 

2,475

(1)

1,580 

(2)

379

2 

627

8 

Serevent

182

(9)

62

2 

85 

(14)

3

52 

32

(19)

Ventolin

602

17 

239

39 

141 

(1)

160

14 

62

4 

Xyzal

64

85 

-

- 

- 

- 

16

7 

48

>100 

Zyrtec

96

12 

-

- 

- 

- 

29

36 

67

3 

Anti-virals

842

(29)

96

(73)

101 

(23)

357

1 

288

(16)

Hepsera

127

(3)

-

- 

- 

- 

96

(4)

31

4 

Zovirax

109

(29)

11

(79)

27 

(4)

37

12 

34

(13)

Valtrex

339

(38)

72

(70)

48 

(31)

38

9 

181

(3)

Zeffix

237

1 

11

(15)

24 

(8)

176

5 

26

(11)

Central nervous system

1,721

(2)

474

(3)

480 

(12)

311

12 

456

2 

Imigran/Imitrex

210

(2)

82

12 

74 

(14)

7

(2)

47

(4)

Lamictal

536

8 

277

12 

131 

(10)

71

3 

57

60 

Requip

218

(7)

42

(2)

113 

(18)

12

- 

51

22 

Seroxat/Paxil

435

(13)

(3)

66 

(20)

88

7 

284

(8)

Treximet

57

5 

57

7 

- 

- 

-

- 

-

(100)

Wellbutrin

85

6 

16

(33)

45 

15 

23

35 

1

100 

Cardiovascular and urogenital

2,454

8 

1,527

4 

534 

8 

251

24 

142

45 

Arixtra

276

(7)

147

(14)

97 

(3)

21

47 

11

(10)

Avodart

748

20 

331

2 

223 

26 

69

28 

125

92 

Coreg

155

(6)

154

(6)

- 

- 

-

- 

1

- 

Fraxiparine

234

5 

-

- 

162 

5 

70

29 

2

(92)

Lovaza

569

12 

567

12 

- 

- 

-

- 

2

- 

Vesicare

126

15 

126

16 

- 

- 

-

- 

-

- 

Metabolic

331

(49)

90

(60)

61 

(62)

63

(35)

117

(27)

Avandia products

123

(71)

91

(60)

(3)

18

(70)

17

(69)

Anti-bacterials

1,390

1 

54

(25)

513 

(5)

724

9 

99

- 

Augmentin

641

4 

-

- 

248 

3 

352

10 

41

(5)

Oncology and emesis

683

2 

268

(20)

245 

22 

92

24 

78

26 

Arzerra

44

45 

31

23 

12 

>100 

-

- 

1

- 

Promacta

75

>100 

32

36 

23 

>100 

5

- 

15

>100 

Tyverb/Tykerb

231

2 

64

(6)

97 

2 

42

26 

28

(7)

Votrient

100

>100 

56

76 

37 

>100 

7

- 

-

- 

Vaccines

3,497

(19)

814

11 

1,091 

(36)

1,012

(11)

580

(26)

Boostrix

192

7 

108

2 

48 

9 

9

(1)

27

35 

Cervarix

506

>100 

8

(31)

58 

(50)

94

71 

346

>100 

Fluarix, FluLaval

230

(2)

132

25 

40 

(38)

34

(20)

24

(2)

Hepatitis

688

(3)

293

(1)

227 

(7)

111

(3)

57

(2)

Infanrix, Pediarix

690

(2)

163

16 

403 

(7)

68

(4)

56

(5)

Rotarix

300

31 

110

55 

41 

8 

129

16 

20

>100 

Synflorix

350

57 

-

- 

52 

21 

292

81 

6

(78)

Dermatologicals

898

8 

263

(4)

157 

4 

382

26 

96

(9)

Bactroban

123

6 

51

4 

28 

4 

35

10 

9

10 

Duac

109

(3)

60

(6)

24 

- 

13

7 

12

(8)

Rare diseases

463

12 

105

(3)

139 

(1)

41

47 

178

31 

Flolan

179

(11)

37

(15)

43 

(37)

1

- 

98

13 

Volibris

97

>100 

-

- 

69 

70 

5

>100 

23

>100 

Other

966

2 

30

29 

264 

(15)

456

14 

216

1 

----------

----------

----------

----------

----------

----------

----------

----------

----------

----------

20,543

(5)

7,022

(5)

5,700 

(13)

4,468

5 

3,353

(3)

----------

----------

----------

----------

----------

----------

----------

----------

ViiV Healthcare (HIV)

1,569

1 

660

4 

574 

(3)

199

9 

136

(4)

Combivir

322

(10)

127

(8)

93 

(21)

83

8 

19

(29)

Epivir

110

(3)

39

3 

32 

(14)

27

13 

12

(21)

Epzicom/Kivexa

617

12 

230

14 

272 

10 

43

13 

72

10 

Lexiva

142

(7)

74

(4)

45 

(14)

16

23 

7

(36)

Selzentry

110

39 

45

38 

51 

24 

4

100 

10

>100 

Trizivir

126

(11)

67

(4)

50 

(18)

5

25 

4

(43)

----------

----------

----------

----------

----------

----------

----------

----------

----------

----------

22,112

(4)

----------

----------

Pharmaceuticals and Vaccines turnover

Three months ended 31 December 2011

Total 

USA 

Europe 

EMAP 

Rest of World 

---------------------------- 

---------------------------- 

---------------------------- 

---------------------------- 

---------------------------- 

£m 

CER%

£m 

CER%

£m 

CER%

£m 

CER%

£m 

CER%

----------

----------

----------

----------

----------

----------

----------

----------

----------

----------

Respiratory

1,957

3 

919 

7 

524

(5)

212

14 

302 

- 

Avamys/Veramyst

55

12 

13 

(18)

14

17 

15

30 

13 

38 

Flixonase/Flonase

31

(16)

1 

(80)

8

(10)

13

(8)

9 

- 

Flixotide/Flovent

232

7 

134 

17 

37

(10)

13

16 

48 

(4)

Seretide/Advair

1,351

2 

682 

4 

390

(5)

101

7 

178 

6 

Serevent

44

(12)

14 

- 

20

(17)

1

>100 

9 

(29)

Ventolin

171

23 

72 

49 

38

3 

48

19 

13 

(3)

Xyzal

22

(9)

- 

- 

-

- 

5

- 

17 

(11)

Zyrtec

24

- 

- 

- 

-

- 

9

50 

15 

(18)

Anti-virals

200

(19)

11 

(71)

25

(17)

91

4 

73 

(20)

Hepsera

37

9 

- 

- 

-

- 

29

13 

8 

13 

Zovirax

26

(33)

- 

- 

7

(14)

11

42 

8 

(11)

Valtrex

76

(23)

6 

(75)

12

(27)

12

15 

46 

(3)

Zeffix

56

(14)

3 

(33)

5

- 

41

(13)

7 

(22)

Central nervous system

446

(1)

121 

7 

114

(12)

82

6 

129 

- 

Imigran/Imitrex

54

6 

20 

40 

18

(5)

1

(30)

15 

(11)

Lamictal

141

9 

70 

9 

32

(6)

18

3 

21 

72 

Requip

52

(13)

11 

10 

22

(33)

2

(35)

17 

21 

Seroxat/Paxil

116

(13)

- 

- 

17

(11)

22

2 

77 

(17)

Treximet

15

7 

15 

14 

-

- 

-

- 

- 

- 

Wellbutrin

20

(5)

3 

(71)

11

9 

5

(20)

1 

- 

Cardiovascular and urogenital

645

5 

398 

(2)

133

9 

70

31 

44 

21 

Arixtra

56

(30)

23 

(51)

24

- 

7

40 

2 

(49)

Avodart

206

17 

89 

6 

60

22 

18

37 

39 

33 

Coreg

41

2 

40 

2 

-

- 

-

- 

1 

- 

Fraxiparine

60

13 

- 

- 

39

8 

20

15 

1 

- 

Lovaza

158

10 

158 

10 

-

- 

-

- 

- 

- 

Vesicare

32

6 

33 

10 

-

- 

-

- 

(1)

- 

Metabolic

95

(8)

30 

(22)

14

34 

18

50 

33 

(24)

Avandia products

39

(20)

31 

(25)

-

- 

4

>100 

4 

(68)

Anti-bacterials

355

(1)

6 

(63)

123

(18)

203

17 

23 

21 

Augmentin

173

7 

(1)

- 

63

(7)

101

19 

10 

(4)

Oncology and emesis

179

8 

71 

(3)

61

15 

28

47 

19 

(12)

Arzerra

12

33 

8 

33 

3

- 

-

- 

1 

- 

Promacta

24

>100 

8 

50 

8

>100 

3

- 

5 

>100 

Tyverb/Tykerb

59

- 

17 

- 

22

(8)

12

25 

8 

(8)

Votrient

31

>100 

16 

45 

12

>100 

4

- 

(1)

- 

Vaccines

810

(18)

158 

(6)

290

(25)

238

(20)

124 

1 

Boostrix

45

(10)

23 

(18)

14

27 

1

(26)

7 

(33)

Cervarix

100

46 

1 

100 

17

(28)

26

69 

56 

>100 

Fluarix, FluLaval

54

(22)

17 

(39)

18

31 

13

(33)

6 

(15)

Hepatitis

161

(1)

59 

7 

54

(14)

32

13 

16 

2 

Infanrix, Pediarix

181

(4)

32 

(8)

115

(3)

19

16 

15 

(29)

Rotarix

73

(5)

25 

29 

10

22 

27

(39)

11 

>100 

Synflorix

67

44 

- 

- 

16

>100 

49

36 

2 

(78)

Dermatologicals

221

2 

64 

(11)

39

9 

97

16 

21 

(25)

Bactroban

29

3 

13 

8 

6

(14)

8

10 

2 

9 

Duac

26

4 

14 

- 

6

- 

2

(1)

4 

44 

Rare diseases

126

6 

27 

(11)

32

(17)

13

53 

54 

30 

Flolan

44

(16)

8 

(27)

9

(53)

-

- 

27 

14 

Volibris

28

69 

- 

- 

17

31 

1

>100 

10 

>100 

Other

256

(11)

8 

64 

75

(22)

111

(3)

62 

(17)

----------

----------

----------

----------

----------

----------

----------

----------

----------

----------

5,290

(3)

1,813 

- 

1,430

(11)

1,163

4 

884 

(3)

----------

----------

----------

----------

----------

----------

----------

----------

ViiV Healthcare (HIV)

402

1 

176 

10 

138

(3)

50

(17)

38 

11 

Combivir

68

(29)

30 

(12)

19

(29)

15

(41)

4 

(63)

Epivir

27

(7)

9 

- 

7

(13)

7

(13)

4 

- 

Epzicom/Kivexa

170

17 

65 

20 

70

13 

13

8 

22 

31 

Lexiva

38

6 

20 

- 

10

- 

7

- 

1 

(50)

Selzentry

33

50 

13 

44 

12

9 

2

100 

6 

>100 

Trizivir

32

3 

18 

13 

11

(21)

2

- 

1 

- 

----------

----------

----------

----------

----------

----------

----------

----------

----------

----------

5,692

(3)

----------

----------

Pharmaceuticals and Vaccines turnover

Three months ended 30 September 2011

Total 

USA 

Europe 

EMAP 

Rest of World 

---------------------------- 

---------------------------- 

---------------------------- 

---------------------------- 

---------------------------- 

£m 

CER%

£m 

CER%

£m 

CER%

£m 

CER%

£m 

CER%

----------

----------

----------

----------

----------

----------

----------

----------

----------

----------

Respiratory

1,714

(2)

783

(6)

502

(1)

184

8 

245 

7 

Avamys/Veramyst

50

23 

17

13 

13

20 

14

39 

6 

25 

Flixonase/Flonase

28

(16)

2

(63)

9

- 

13

30 

4 

(50)

Flixotide/Flovent

183

(3)

100

(3)

35

- 

12

28 

36 

(12)

Seretide/Advair

1,217

(3)

593

(7)

384

- 

89

- 

151 

8 

Serevent

43

(10)

15

(6)

21

(17)

-

- 

7 

- 

Ventolin

136

5 

54

10 

32

(6)

33

6 

17 

6 

Xyzal

12

>100 

-

- 

-

- 

4

- 

8 

- 

Zyrtec

21

5 

-

- 

-

- 

7

33 

14 

(8)

Anti-virals

208

(13)

24

(50)

25

(14)

92

9 

67 

(13)

Hepsera

32

(6)

-

- 

-

- 

24

(4)

8 

(14)

Zovirax

25

(19)

1

(88)

7

17 

10

25 

7 

(20)

Valtrex

87

(12)

22

(19)

11

(14)

9

11 

45 

(11)

Zeffix

63

11 

1

(33)

7

(14)

48

18 

7 

17 

Central nervous system

458

3 

140

16 

123

(11)

80

6 

115 

4 

Imigran/Imitrex

54

- 

21

17 

20

(14)

3

59 

10 

(9)

Lamictal

153

18 

88

29 

33

(9)

18

(8)

14 

>100 

Requip

56

(7)

11

(15)

29

(9)

3

(26)

13 

22 

Seroxat/Paxil

109

(9)

-

(100)

16

(16)

23

- 

70 

(3)

Treximet

14

- 

14

- 

-

- 

-

- 

- 

- 

Wellbutrin

23

33 

5

50 

12

10 

8

>100 

(2)

- 

Cardiovascular and urogenital

630

8 

394

2 

136

14 

64

28 

36 

41 

Arixtra

71

(3)

39

(9)

23

5 

5

25 

4 

- 

Avodart

188

19 

79

(8)

58

37 

18

26 

33 

>100 

Coreg

38

(11)

39

(12)

-

- 

-

- 

(1)

- 

Fraxiparine

60

7 

-

- 

42

18 

17

13 

1 

(80)

Lovaza

139

2 

139

4 

-

- 

-

- 

- 

- 

Vesicare

33

21 

32

22 

-

- 

-

- 

1 

- 

Metabolic

75

(38)

14

(55)

16

(57)

15

10 

30 

(24)

Avandia products

22

(67)

14

(52)

(1)

6

(22)

3 

(71)

Anti-bacterials

323

(3)

13

- 

112

(12)