GlaxoSmithKline highlights growth prospects of innovative portfolio

GlaxoSmithKline has briefed investors on its strategy for driving continued growth through investment in its innovative drug portfolio.

At a presentation to investors in New York, the company profiled around 40 new potential medicines and vaccines, which will support its outlook for growth in the period 2016-2020 and the opportunity it has to create value beyond the end of the decade.

Approximately 80 percent of the medicines and vaccines presented have the potential to be first-in-class, with novel mechanisms of action, with drugs being developed across six core areas: HIV and infectious diseases, oncology, immuno-inflammation, vaccines, respiratory and rare diseases.

Up to 20 assets could be filed with regulators before 2020, with seven of these assets in advanced late-stage development, offering the potential to launch before this point.

Sir Andrew Witty, chief executive officer of GlaxoSmithKline, said: "The level of innovation in this portfolio is substantial. We believe this is critical in today's operating environment as payors look to balance pressures of pricing and demand."

The company recently reported a year-on-year sales increase of 11 percent for the third quarter of 2015.