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Financial Report: GlaxoSmithKline

Pharmaceutical sales up 2%

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By: Tim Wright

Editor-in-Chief, Contract Pharma

GlaxoSmithKline

1Q Revenues: $10.5 billion (+2%)

1Q Earnings:  $2.2 billion (-13%)

Comments: Pharmaceutical sales were up 2% to $8.4 billion. Vaccine sales were up 1% to $1.2 billion. Consumer Healthcare sales were up 1% to $2.1 billion. Sales in the U.S. grew 9%, while Europe had a 6% decline. Earnings decline in the quarter is attributed to a one-time payment in 2011 for GSK’s interest in Quest.

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