GSK India is strategically shifting its focus towards high-value oncology therapies and adult vaccines, a move that significantly contributed to its financial performance in the fiscal year ending March 31, 2026. The company reported a revenue of ₹3,790 crore, marking a 2% increase, while its profit after tax saw a substantial 10% rise, reaching ₹1,012 crore.
This pivot reflects a broader trend among multinational pharmaceutical companies in India to concentrate on innovative, specialty medicines. Despite some supply chain disruptions affecting traditional product lines, the growth in cancer care and vaccines propelled the company forward, with EBITDA margins expanding by 290 basis points to 34%.
Expanding Oncology Portfolio
Oncology is rapidly becoming a cornerstone of GSK India's business. Therapies like Jemperli (dostarlimab) and Zejula (niraparib) demonstrated robust performance throughout the year. Notably, Jemperli received approval in India as a first-line treatment for primary advanced and recurrent endometrial cancer, greatly expanding its patient base.
The company also secured market authorization for Blenrep (belantamab mafodotin), an antibody-drug-conjugate therapy for relapsed or refractory multiple myeloma in adults. Multiple myeloma, the third most common blood cancer globally, presents a significant unmet medical need, and GSK India plans to announce Blenrep's launch details soon. These approvals coincide with increasing access to advanced cancer treatments across India's private healthcare sector and urban cancer centers.
Adult Vaccines Drive Preventative Care
Vaccines remain another critical growth area for GSK India. The shingles vaccine, Shingrix, achieved significant traction as public awareness around preventive healthcare and adult immunization improved. India's adult vaccination market is considered underpenetrated compared to developed nations, yet it offers considerable opportunities due to an aging population, growing focus on preventative health, and increased consumer spending on healthcare.
Navigating Supply Challenges and Traditional Medicines
While innovative therapies drove growth, GSK India's general medicines business maintained stability. Brands such as Augmentin, Calpol, and T-Bact reportedly grew faster than the market, according to IQVIA data. However, the company faced pressure on its tail-end distributed portfolio due to supply chain disruptions, which impacted product availability and constrained topline growth.
In response, GSK India is actively strengthening its contingency planning, diversifying sourcing strategies, and enhancing end-to-end supply visibility to mitigate future disruptions.
“The strong delivery of our Oncology portfolio signals a key inflection point in GSK India’s journey to evolve into an innovation-led company, focused on areas of high unmet medical need,” said Bhushan Akshikar, Managing Director, GSK India. “Building on this momentum, we will continue to invest in innovative, high-growth therapy areas to make a positive impact at scale.”