GlaxoSmithKline discusses European sales

GlaxoSmithKline (GSK) has asserted the first quarter of 2009 saw strong sales performances in a number of regions ? including Europe.

Compared to the same period the year before, US figures decreased 22 per cent to 2.3 billion pounds.

However, Andrew Witty, chief executive of the company, stated the collective sales for Europe, Asia, emerging markets and the consumer healthcare division performed well.

Altogether they contributed 66 per cent of overall turnover ? a total of 4.3 billion pounds.

The year has already seen a number of changes in the industry, he noted, adding the acquisition of Stiefel would allow GSK to expand its work in the dermatology field.

Further opportunities will also arise from the new specialist HIV business the company is forming with Pfizer, Mr Witty claimed.

“I am pleased with the progress we have made against our strategic priorities to improve long-term growth and reduce risk,” he said.

Earlier this week, it was announced GSK will acquire Stiefel for a value of up to $3.6 billion (2.4 billion pounds).

Combined revenues of the new business will equal around $1.5 billion.