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3 Feb 2011

GSK: 4Q Sales Figures

GlaxoSmithKline released its 4Q results showing the total fourth-quarter sales fell 13% year over year.

GlaxoSmithKline, the world's second largest drug maker by revenue, reported a fourth-quarter loss on Thursday.


U.S. pharma sales for the year dropped 11% to $11.9 billion, while European sales dropped 7% to $10.1 billion. Emerging markets rose 22% to $5.5 billion in that span. The vaccine segment overall grew 15% to $6.7 billion. Generic exposure for Valtrex and Avandia's continuing death-spiral impacted revenues for 4Q and FY. Valtrex sales were $152 million (-60%) for 4Q and $823 (-60% from $2.0 billion) for FY. The 4Q loss was driven by $3.2 billion in legal costs and $450 million in restructuring costs. GSK announced plans to sell off non-core OTC consumer health brands that add up to around $750 million in annual sales. The company also sold its share in Quest diagnostics for $1.1 billion (after tax) this week and sold its interest in Zovirax

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