Glaxo shrugs off lower Zantac sales

Glaxo Wellcome shares shrugged off an annual meeting trading statement pointing to a 5 per cent decline in sales of Zantac, its best-selling ulcer treatment.

Analysts said the downturn was in line with expectations. Underlying growth of the combined company's other treatments was 8 per cent in the 10 months to October, according to Sir Colin Corness, chairman, who added that the integration with Wellcome was on track around the world.