Swine flu jabs boost GSK sales
Thursday 29 April 2010
Glaxosmithkline revealed a further boost from last year's swine flu crisis yesterday as it said H1N1 treatments helped first-quarter sales surge 13 per cent.
The pharmaceuticals giant said £698m in swine flu vaccine sales helped drive the lift in first-quarter revenues to a better-than-expected £7.4bn.
Profits rose 16 per cent, with currency movements stripped out, to £2.2bn in the first three months of the year, but Glaxo only expects to see about another £200m in swine flu sales this year after governments scaled back orders as the threat of pandemic receded.
It has already signalled a tough year ahead as the swine flu benefits drop out and amid increasing pressure from cheaper generic competitors to its blockbuster drugs. The group is offsetting this by slashing costs and confirmed it was on track to make annual savings of £1.5bn by the end of the year, as part of efforts to trim £2.2bn by 2012.
The group added it was continuing to reduce reliance on "white pills/Western markets" to help reduce volatility seen with some of its treatments. Sales from these developed markets rose 27 per cent in the first quarter, down from 32 per cent a year earlier. The impact of generic rivals was clear, with first-quarter sales of its antiviral Valtrex down 46 per cent in the quarter after a patent expiry last November.
peopleContenders for Time magazine's Person of the Year are a mixture of the good, the bad and the holy
newsAs the world remembers Mandela the hero, the prison where he spent 27 years seems all the more brutal
tvSteven Moffat reveals the actor was dying to take on the role of the Time Lord and says he is excited to see what he will do with the character
sportBayern Munich 2 Manchester City 3: City come from two down to beat reigning European Champions
arts + ents... and a chance to paint Booker Prize winning author Hilary Mantel
danceUnder Tamara Rojo's inspired direction, it seems possible that it could challenge the dominance of the Royal Ballet. We meet some established names and rising stars
travelDiscover Uruguay's jet-set beach resort, an Atlantic enclave with plenty of art and culture to explore on the side
The ten coldest places on Earth
Sir Ian McKellen hits back at Damian Lewis' 'fruity actor' claims
Kenyan politician Mike Sonko left red-faced after photoshopping himself next to Nelson Mandela
Krokodil in Mexico? Teenager hospitalised after 'injecting drug into her genitals'
Nelson Mandela memorial: Cheers, jeers and a masterclass from Barack Obama that stole the show
- 1 It’s shameful that our universities have accepted gender segregation under pressure from the most oppressive religious fanatics
- 2 Sir Ian McKellen hits back at Damian Lewis' 'fruity actor' claims
- 3 Kenyan politician Mike Sonko left red-faced after photoshopping himself next to Nelson Mandela
- 4 Selfie at funeral: Cameron squeezes in on Obama snap at Mandela memorial
- 5 Is Facebook making us forget? Study shows that taking pictures ruin memories
- < Previous
- Next >
iJobs Money & Business
£50000 - £65000 per annum + BONUS + BENEFITS: Harrington Starr: A leading mark...
£60000 - £85000 per annum + BONUS + BENEFITS: Harrington Starr: A leading asse...
£45000 - £70000 per annum + Bonus + Benefits: Harrington Starr: Technical Impl...
£65000 - £90000 per annum + Bonus + Benefits: Harrington Starr: Rogue Trading ...