GlaxoSmithKline - Big Pharma's Q2 2010 Earnings Report

FiercePharma says: GlaxoSmithKline announced a $2.36 billion charge to second-quarter earnings, to cover the cost of resolving several legal problems including the Avandia settlement, but also a $750 million deal to dispose of a U.S. manufacturing investigation.

Highlights

• Q2 sales £7.0 billion (level); progress in diversification strategy offsets US decline.
• H1 total sales £14.4 billion (+7%); sales excluding pandemic products +1%
• Sustained pipeline delivery and development of portfolio.
• Ongoing efforts to resolve long-standing legal cases; pre-announced Q2 legal charge of £1.57 billion
• Continued focus on cost control and strong cash generation.

See GSK's current stock quote from CNN Money

GSK's website: http://www.gsk.com/
Full release: GSK's earnings release

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