GlaxoSmithKline says first quarter was “excellent”

GlaxoSmithKline has reported a 25 per cent increase in operating profit in comparison to the same period last year, during an “excellent” first quarter.

The world’s second largest pharmaceutical company highlighted increased sales in its key growth products – in particular anti-asthma drug Advair, the antidiabetic Avandia series and vaccines. Glaxo also said it was encouraged by the performance of its pipeline products in phase III testing, including orally-medicated breast cancer drug Tykerb and Trexima, a new migraine treatment.

JP Garnier, chief executive, commented: “This has been a quarter of strong financial performance, driven by top-line pharma sales growth of 10%. It has also been a quarter of good pipeline news.”

He added: “In particular, the efficacy seen in Tykerb?s first phase III trial is very compelling and it gives us confidence that we will be able to launch a significant new treatment for breast cancer next year.”

Sales in Glaxo’s consumer products sector grew to 768 million pounds, buoyed by the increased sales in Lucozade, Ribena and Sensodyne toothpaste. Meanwhile, the FDA is considering approval of Glaxo’s orlistat, Alli. If accepted, it will become the only FDA-approved obesity drug available over-the-counter.

Cervarix, the anti-cervical caner drug, was filed in the EU last month as well as 13 other markets in March after clinical data suggested that the drug has 100 per cent sustained efficacy against pre-cancerous lesions caused by some types of the human papillomavirus virus.

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