GlaxoSmithKline: quarterly earnings rise on vaccines
(CercleFinance.com) - GlaxoSmithKline reported a rise in quarterly earnings on Wednesday, as strong sales in its vaccine division offset a more disappointing performance in pharmaceuticals.
Sales in the second quarter were flat at 7.3 billion pounds, but adjusted operating profit rose by 1% to 2.1 billion pounds, with group operating margin up 0.3 percentage points at 28.8%.
Vaccines sales were up 13%, while pharmaceuticals turnover was down 3%.
Following an "encouraging" first half year, GSK raised its expectations for the full year.
Alongside the results, at a presentation to investors in London, GSK set out the new approach it will take to research and development (R&D) under new chief scientific officer Hal Barron's leadership.
The executive said the drugmaker will now try to identify new medicines by focusing on ways to modulate the immune system, and announced a strategic collaboration with 23andMe.
The Glaxo share was up 1.5% in London after this report.
Copyright (c) 2018 CercleFinance.com. All rights reserved.
Sales in the second quarter were flat at 7.3 billion pounds, but adjusted operating profit rose by 1% to 2.1 billion pounds, with group operating margin up 0.3 percentage points at 28.8%.
Vaccines sales were up 13%, while pharmaceuticals turnover was down 3%.
Following an "encouraging" first half year, GSK raised its expectations for the full year.
Alongside the results, at a presentation to investors in London, GSK set out the new approach it will take to research and development (R&D) under new chief scientific officer Hal Barron's leadership.
The executive said the drugmaker will now try to identify new medicines by focusing on ways to modulate the immune system, and announced a strategic collaboration with 23andMe.
The Glaxo share was up 1.5% in London after this report.
Copyright (c) 2018 CercleFinance.com. All rights reserved.