GlaxoSmithKline reports sales increase of ten per cent

GlaxoSmithKline (GSK) has said its pharmaceutical sales have increased by ten per cent, noting strong performance in its asthma and diabetes drugs.

The UK’s largest drugs manufacturer revealed that sales for Seretide, the asthma and chronic obstructive pulmonary disease treatment, rose by 12 per cent, up to 822 million pounds, while sales in its Avandia range of diabetes drugs increased by almost a third.

Additionally, the company updated shareholders with the progress it is making with its product pipeline. GSK said it hoped to file Tykerb, an oral breast cancer treatment, with European regulatory authorities by the end of the year. Both Redona, a diabetes treatment, and rosiglitazone XR for Alzheimer’s have entered phase III clinical trials.

Positive phase II data for Promacta, an oral platelet growth factor drug, was received earlier in the year, although GSK cancelled the development of the antidepressant radafaxine due to an unfavourable risk-benefit ratio.

JP Garnier, GlaxoSmithKline’s chief executive officer, remarked: “GSK has had another successful quarter with pharmaceutical sales growth of ten per cent, driving an excellent financial performance and enabling us to raise our earnings guidance to around 12 per cent earnings-per-share growth in 2006.”

“The pipeline is progressing well and we have also just received outstanding efficacy data for our H5N1 pandemic vaccine – these results are highly significant and mark real progress in our aspiration to develop a vaccine for use in preparing for an influenza pandemic,” he added.

GSK claims that no other H5N1 vaccine has shown the same level of efficacy, including those using adjuvants like alum.

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