GSK Announces 2Q11 Financial Results
GlaxoSmithKline reports its financial results for the second quarter ended June 30, 2011.
British drugmaker GlaxoSmithKline announced Tuesday its financial results for the second quarter 2011.
Pharmaceuticals and Vaccines revenues fell 3% to GBP 5.4 billion in 2Q11, as a result of Avandia and Valtrex losses, in concert with reduced pandemic sales compared to 2010. YTD revenues fell 9% to GBP 10.7 billion.
Pharma/Vaccine sales in the U.S. were down 4% for 2Q and 8% for YTD; those sales in Europe were down 9% and 17% for the two periods, respectively; in Emerging Markets, they were up 12% and 5% for the two periods.
Pharmaceutical revenues were led by Seretide/Advair, at GBP 1.3 billion (+2%) for 2Q and GBP 3.6 billion (+3%)
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