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Financial Report: GlaxoSmithKline

Bribery allegations impact sales in China

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By: Tim Wright

Editor-in-Chief, Contract Pharma

GlaxoSmithKline
 
3Q Revenues: £6.5 billion (flat)

3Q Earnings: £1.9 billion (+12%)

YTD Revenues: £19.6 billion (flat)

YTD Earnings: £5.4 billion (flat)

Comments: Pharmaceuticals and Vaccines sales were flat at £5.2 billion in the quarter. In the U.S. sales were up 2% to £1.9 billion, with Pharmaceuticals down 3% due to a decline in Respiratory sales, and Vaccines up 24% due to a 69% increase in Infanrix/Pediarix, which continued to benefit from a competitor supply shortage, and a 29% increase in Fluarix/FluLaval sales. Advair sales were down 1%, Flovent sales were down 8% and Ventolin was down 10%. Oncology sales were up 14% to £99 million, led by Votrient, up 38% to £36 million, and Promacta, up 27% to £19 million. Benlysta sales doubled to £39 million. Lovaza sales fell 12% to £134 million, due to market contraction and increased competition. Lamictal sales were down 16% to £70 million due to generic competition. In Europe sales were up 5% to £1.3 billion with Pharmaceutical sales up 5% to £1.0 billion driven by oncology growth led by Votrient and Promacta. Sales of Avodart increased 17% to £67 million. Vaccines sales were up 4%. EMAP Pharmaceuticals and Vaccines sales were down 9% to £1.6 billion, impacted by a 61% decline in China sales as a result ofbribery allegations.Results reported at CER%.

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