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Home Industry News GlaxoSmithKline hails ‘positive step forward’ in third quarter

GlaxoSmithKline hails ‘positive step forward’ in third quarter

26th October 2010

GlaxoSmithKline has expressed confidence in its ability to meet its long-term growth targets after noting a number of positive trends in the third quarter of 2010.

According to the company's latest quarterly financial report, GlaxoSmithKline was able to achieve underlying sales growth in the last three months, offsetting trends such as an expected decline in pandemic influenza product demand.

New product sales grew by 44 percent to 448 million pounds, while programmes to reduce costs and increase research and development returns have seen success in the last quarter.

For the year to date, the company has generated a sales total of 21.2 billion pounds, up by four percent year-on-year.

Andrew Witty, the company's chief executive officer, said: "This third quarter marks another positive step forward in execution of our strategy and, despite the challenging environment we face, I remain confident that GlaxoSmithKline's outlook continues to improve."

Earlier this month, the company's rare diseases business unit head Marc Dunoyer outlined strategies which will see GlaxoSmithKline expand its research commitments in the field of uncommon diseases.ADNFCR-8000103-ID-800157284-ADNFCR

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