GSK sees earnings rise amid good demand for vaccines

Pharmaceutical company GlaxoSmithKline says its net profit rose 50 percent in the third quarter to 808 million pounds ($986 million) thanks in part to strong sales of its vaccine products.

The London-based company said Wednesday that revenue grew 23 percent to 7.54 billion pounds.

CEO Andrew Witty cited "the sustained progress we have made over the course of 2016 to deliver sales growth of , maintain effective cost control and execute on our restructuring and integration plans."

GSK saw good demand for its flu and meningitis vaccines, particularly in the U.S. It's trying to increase its range of products as some of its older treatments lose patent protection.

Witty is due to retire in March and leave his position to Emma Walmsley, currently head of the consumer healthcare division.

Explore further

GSK sees rise in sales of vaccines, healthcare products

© 2016 The Associated Press. All rights reserved.

Citation: GSK sees earnings rise amid good demand for vaccines (2016, October 26) retrieved 18 June 2019 from
This document is subject to copyright. Apart from any fair dealing for the purpose of private study or research, no part may be reproduced without the written permission. The content is provided for information purposes only.

Feedback to editors

User comments

Please sign in to add a comment. Registration is free, and takes less than a minute. Read more