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Home Industry News Glaxo sales expected to rise

Glaxo sales expected to rise

24th April 2006

GlaxoSmithKline’s sales are largely expected to show a nine percent rise when it reveals its quarterly results later this week, according to Reuters.

At almost the same time as British competitors AstraZeneca and Shire, Glaxo will reveal their results on April 27th.

The prediction appears much in line with its previous growth figures. In 2005 Glaxo reported an eight per cent growth in turnover and added 82.6p to each share, with particularly strong growth in the sales of Seretide (known as Advair outside of the EU) and Avandia.

A report from Gbola Amusa points to a busy research schedule as having some potential for investors. Earlier last month, Glaxo announced it will have a bird-flu vaccine ready next year in case of a global pandemic. Also, the filing of anti-cancer drug Ceravix is expected to be completed in both the EU and the US by the end of 2006.

Earlier this month, shares in Glaxo were downgraded to “buy” from “neutral” by UBS due to recent disappointment from Advair results, and are 16p at the time of writing.

track© Adfero Ltd

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