GlaxoSmithKline profits climb on healthy sales of swine flu vaccine


London Telegraph
April 28, 2010

Pre-tax profits climbed to £1.93bn in the first three months of the year as turnover jumped 13pc to £7.36bn, the pharmaceuticals group said on Wednesday.

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Sales of its H1N1 vaccine amounted to £698m on the back of last year’s swine flu crisis. Glaxo forecast another £200m in related sales in the remaining nine months of the year, with the threat of a pandemic having receded.

Andrew Witty, chief executive, said he was encouraged by underlying revenue growth of 4pc – excluding pandemic flu products – which reflected success in diversifying into emerging markets and consumer health.
Sales from conventional “white pills” in Western markets accounted for just 27pc of first-quarter sales, down from 32pc a year ago.

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