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Financial Report: GlaxoSmithKline 1Q

Pharmaceutical product sales in the quarter were $8.1 billion (-15%). Seretide/Advair sales were $1.7 billion (-11%).

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By: Tim Wright

Editor-in-Chief, Contract Pharma

GlaxoSmithKline 1Q

1Q Revenues: $9.7 billion (+2%)*

1Q Earnings: $1.7 billion (-37%)

Comments: Pharmaceutical product sales in the quarter were $8.1 billion (-15%). Seretide/Advair sales were $1.7 billion (-11%). Valtrex sales were flat at $495 million. Relenza sales were $320 million, up from $58 million in 1Q08. Lamictal sales were down 64% to $207 million due to generic competition. Seroxat/Paxil sales were down 25% to $181 million. Avandia product sales were $284 million (-25%). Vaccine sales were $900 million (+4%).

*Results exclude Consumer Healthcare business.

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