Glaxo Profit Rises 11%, Topping Forecasts
Published:
Wednesday, 22 Jul 2009 | 7:41 AM ET
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By: AP
GlaxoSmithKline, the world's second largest drug maker by revenues, has posted an 11 percent rise in second quarter earnings.
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Alastair Grant / AP |
The company [GSK
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] was helped by a strong performance in emerging markets that offset sliding pharmaceutical sales in the United States.
In Wednesday's earnings report, the company booked net profit for the three months to June 30 of 1.46 billion pounds ($2.4 billion), up from 1.31 billion pounds a year ago.
Revenue rose 15 percent to 6.75 billion pounds from 5.87 billion pounds.
The company is ramping up production of Relenza, the antiviral drug that can be used to treat swine flu. It is also in talks with more than 50 governments about its H1N1 vaccine.
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