GlaxoSmithKline 3Q Profit Up 11 %
Wed, 10/28/2009 - 4:31am
LONDON (AP) — GlaxoSmithKline PLC, the world's second largest drug maker by revenues, has posted an 11 percent rise in third quarter net profit on the back of strong sales in emerging markets and its consumer healthcare division. Wednesday's earnings report shows net profit of 1.44 billion pounds ($2.35 billion) for the three months to Sept. 30, compared to 1.29 billion pounds a year ago. Revenue rose 15 percent to 6.76 billion pounds. London-based Glaxo, which sells asthma treatment Advair and the Ribena range of soft drinks, says it expects further improvements in the fourth quarter with "significant sales" of its influenza vaccines.