GlaxoSmithKline Pakistan Limited
By PSX Investors Zone · Updated October 24, 2026
GlaxoSmithKline Pakistan Limited (PSX: GLAXO) is a pharmaceutical company engaged in manufacturing and marketing research-based medicines and other pharmaceutical products in Pakistan. It is part of the global GSK group and operates across therapy areas including anti-infectives, dermatology, analgesics, and vaccines. For the year ended December 31, 2025, the company reported sales of approximately Rs65.90 billion, profit after tax of Rs10.03 billion, and earnings per share of Rs31.48. Its financial performance, product portfolio, manufacturing operations, regulatory environment, and cash-flow position are important factors for fundamental analysis. GLAXO was classified as Shariah-compliant in the PSX KMI All Share screening published in May 2026, based on financial statements available through December 2025. Investors should check subsequent screening updates before making decisions. **Important:** The official PSX company page displays a Risk Warning Alert stating that the company is in continuous violation of specified exchange clauses and carries a risk of trading suspension or delisting. Investors should review the latest PSX disclosures and understand this regulatory risk before evaluating the stock. Sources: [PSX company profile and financials](https://dps.psx.com.pk/company/GLAXO) | [GSK Pakistan](https://pk.gsk.com/en-pk/company/) | [PSX KMI screening notice](https://www.psx.com.pk/psx/files/?file=277899-1.pdf)
GlaxoSmithKline Pakistan Limited (PSX: GLAXO) is a pharmaceutical company operating in Pakistan and part of the international GSK group. Its principal activities include manufacturing and marketing research-based pharmaceutical products. The company serves multiple therapeutic areas, including anti-infectives, dermatology, analgesics, and vaccines. Its official website identifies several established brands in its product portfolio.
Business Overview
The company's operations combine pharmaceutical manufacturing, product distribution, and commercial activities. Manufacturing capabilities, product demand, input costs, pricing regulations, supply-chain continuity, and product quality requirements can all affect its operating performance.
Investors researching GLAXO should review the company's official annual and interim reports to understand revenue trends, gross margins, operating expenses, working-capital requirements, cash generation, and changes in profitability. Pharmaceutical businesses can face risks associated with regulatory requirements, competition, production costs, product availability, and changes in market demand.
Financial Performance
For the year ended December 31, 2025, the figures available on the Pakistan Stock Exchange company profile show:
| Financial metric | FY2025 | FY2024 |
|---|---|---|
| Sales | Rs65.90 billion | Rs61.19 billion |
| Profit after tax | Rs10.03 billion | Rs6.54 billion |
| Earnings per share | Rs31.48 | Rs20.52 |
These figures indicate higher reported sales and profit in 2025 compared with 2024. Investors should examine the audited annual report to identify the factors behind the improvement and determine whether earnings are sustainable. Past results do not guarantee future performance.
The company's 2026 interim disclosures also provide information for monitoring its current-year progress. The PSX profile reported sales of approximately Rs17.03 billion and profit after tax of approximately Rs2.61 billion for the first quarter of 2026, followed by sales of approximately Rs14.49 billion and profit after tax of approximately Rs1.97 billion for the second quarter. Refer to the original quarterly statements for the reporting basis and detailed notes.
Source: PSX financial profile | Official GSK Pakistan investor relations
Dividend Information
PSX announcements show that the company credited an interim cash dividend of Rs7.00 per share for the half year ended June 30, 2026, on September 11, 2026. Dividend payments depend on company decisions, shareholder entitlements, and the relevant corporate announcements. Investors should consult the latest official payout disclosures rather than assume that past dividends will continue.
Source: PSX announcements and payouts
Shariah Compliance
GLAXO was classified as Shariah-compliant in the PSX KMI All Share screening published on May 29, 2026, using financial statements available through December 2025. The published screening reported:
- Debt ratio: 0.73%
- Non-compliant investment ratio: 0.00%
- Non-compliant income ratio: 0.76%
- Illiquid assets ratio: 56.15%
The company was removed from the KMI-30 index during the 2026 recomposition, but index membership and Shariah-compliance status are distinct matters. Removal from a 30-company index does not automatically establish non-compliance. Check the latest official screening before investing because status and ratios can change.
Source: Official PSX KMI screening notice
Important PSX Risk Warning Alert
The official PSX company page displays the following warning:
“The Company is in continuous violation as specified in Clauses 5.11.1. or 5.11.2. and carry risk of suspension of trading or being delisted from the Exchange and may be subject to such terms and conditions as specified by the Exchange.”
This is a material regulatory warning. Readers should verify its current status directly with PSX and review relevant exchange announcements before making any investment decision. Shariah screening status does not remove or resolve this separate exchange-related risk.
Source: Official PSX company profile
Fundamental Analysis: What Investors Should Monitor
Investors assessing GLAXO may review:
- Revenue growth: Compare annual and quarterly sales and investigate changes in product demand.
- Profitability: Track gross margins, operating profit, net profit, and earnings per share.
- Cash flow: Compare operating cash flow with reported earnings and assess working-capital movements.
- Balance sheet: Review borrowings, cash balances, receivables, inventories, and other liabilities.
- Dividend sustainability: Compare cash dividends with earnings and available cash flow.
- Regulatory exposure: Monitor the PSX Risk Warning Alert and any subsequent company or exchange announcements.
- Shariah status: Recheck the latest official screening instead of relying indefinitely on an older classification.
Frequently Asked Questions
What is GlaxoSmithKline Pakistan Limited's PSX symbol?
Its Pakistan Stock Exchange symbol is GLAXO.
Is GLAXO Shariah-compliant?
It was classified as compliant in the PSX KMI All Share screening published in May 2026, based on December 2025 financial statements. Check the latest screening before investing.
What were GLAXO's FY2025 sales and profit?
The PSX profile reports sales of approximately Rs65.90 billion and profit after tax of approximately Rs10.03 billion for 2025.
Does GLAXO have a regulatory risk warning?
Yes. The official PSX profile displays a Risk Warning Alert concerning continuous violation of specified exchange clauses and possible suspension or delisting. Investors should verify the current position directly with PSX.
What should investors check before evaluating GLAXO?
Review audited financial statements, recent quarterly results, cash flows, dividend announcements, regulatory disclosures, valuation, and the latest Shariah screening.
Official Research Links
This profile is for educational purposes and is not a recommendation to buy or sell any security.