FiercePharma says: Emerging markets are paying off for GlaxoSmithKline, but it's pandemic flu that's really accelerating sales. Third-quarter profits jumped by 30 percent to £1.34 billion ($2.18 billion), partly on currency effects, while sales grew 15 percent to £6.76 billion ($11.05 billion). Read more...
- Return to sales growth with Q3 turnover +3% CER; +15% sterling
- Continued improvement expected in Q4
- Portfolio diversification and investment in key areas drives return to sales growth: Emerging Markets (+25%); Japan (+19%) and Consumer Healthcare (+8%)
- Further growth expected in Q4 2009 including significant sales of influenza products
- US sales -12% primarily due to continued adverse impact of generic competition
GSK's Website: http://www.gsk.com/