GlaxoSmithKline profit up 14 percent
Published: Wed, Jul. 26, 2006 09:23AM
Modified Wed, Jul. 26, 2006 09:29AM
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closeStrong U.S. sales prompted GlaxoSmithKline to project higher annual profits than it had expected previously, according to a news release issued this morning.
Based on U.S. sales that rose 18 percent in the second quarter, GSK increased its projected earnings-per-share gain to 12 percent for the year.
The British drugmaker, which has a U.S. headquarters in Research Triangle Park and employs about 6,000 in the Triangle, had previously expected a 10 percent profit gain this year.
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Revenue for the three months ended June 30 was $10.6 billion, up 11 percent from the same period a year ago. Earnings increased 14 percent to $2.45 billion, or 42.1 cents per share.
Key reasons for the growth included GSK’s asthma treatment Advair, the Avandia family of diabetes treatments and vaccines, a business that generated a 35 percent sales gain in the United States.
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