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Financial Report: GlaxoSmithKline

Revenues fall flat in the quarter

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By: Tim Wright

Editor-in-Chief, Contract Pharma

GlaxoSmithKline
 
2Q Revenues: $10.1 billion (flat)

2Q Earnings: $2.0 billion (-18%)

YTD Revenues: $19.9 billion (-3%)

YTD Earnings: $5.9 billion (-22%)

Comments: Pharmaceuticals and Vaccines sales were up 5% in the quarter to $8.1 billion. Respiratory sales were up 8% to $1.4 billion, driven by Advair (+8%), Flovent (+12%) and Ventolin (+18%). Oncology growth was driven by Votrient up 70% to $54.8 million, and Promacta up 38% to $28.9 million. Vaccine sales were up 14% driven by Infanrix/Pediarix sales (+31% to $109.5 million), benefiting from a competitor supply shortage. Gains were offset by generic competition to Lamictal, down 18%, and dermatology sales down 37%. Sales in the U.S. were $3.3 billion, up 5%. Sales in Europe were flat at $2.9 billion, and sales in Japan were down 5% to $661.6 million, primarily reflecting generic competition for Paxil.

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