GlaxoSmithKline reports year-on-year growth in Q2 2013

GlaxoSmithKline has published its financial results for the second quarter of 2013, during which it experienced year-on-year growth in line with its long-term objectives.

During the three-month period, the company generated turnover of 6.62 billion pounds, up by two percent year on year, with pharmaceutical and vaccine sales rising by one percent.

The firm was able to make progress with its pipeline developments, achieving key regulatory milestones for products such as Breo Ellipta, Tafinlar, Tyverb and Mekinist, as well as continuing to deliver improved efficiency.

It is also refining its strategic focus with the proposed sale of several assets to Aspen Group and the divestiture of its Lucozade and Ribena brands.

Sir Andrew Witty, GlaxoSmithKline's chief executive officer, said the firm has made progress in its strategy to "fundamentally reshape GlaxoSmithKline to deliver sustainable sales growth, increase financial returns to shareholders and improve productivity in research and development".

This comes in the same week that the firm received a National Institute for Health and Care Excellence recommendation for its chronic immune thrombocytopenic purpura therapy Revolade.