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GlaxoSmithKline’s drug business grew by rising revenue       Business United Kingdom 

GlaxoSmithKline’s drug business grew by rising revenue    

Good quarter was closed by the British pharmaceutical company GlaxoSmithKline (GSK), thanks to the strong demand for its new products, including HIV and respiratory diseases, gains and profits also increased in the three months ended September 30.

The largest British pharmaceutical company on Wednesday announced that its third-quarter revenue grew 4 percent, 7 billion 843 million pounds, and operating income rose 31 percent to 1 billion 877 million pounds.
Post-tax gains amounted to 1 billion 395 million pounds, 57 percent more than the previous year’s 885 million pounds. Diluted earnings per share was 24.6 pence, 49 per cent more than the previous year’s 16.5 pence.
In the first nine months of this year, the Group’s global revenue rose by 11 percent to EUR 22 billion to EUR 547 million, while earnings per share rose 42.5 pennies, compared with a year earlier at 13.5 pence.
Commenting on the data, Emma Walmsley, Chief Executive Officer of GSK, in April, pointed out that sales growth and improved operating profitability were due to targeted cost savings, restructuring and integration benefits, new products, and investment in research and development.
In spring, Walmsley promised to reorganize the research department and revise research programs. They spend more on promising areas such as the treatment of respiratory and infectious diseases and the treatment of AIDS, cancer and autoimmune diseases. They have expanded the cost reduction program and want to save another £ 1 billion by 2020.

Source: MTI / Image: flickr /

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