GlaxoSmithKline sees strong performance in Q3 2013

GlaxoSmithKline has announced its financial results for the third quarter of 2013, during which it achieved three-month turnover of 6.51 billion pounds.

This represented a one percent year-on-year increase, with the company's fiscal report stating that broad-based sales growth was achieved during the quarter. As such, the company was able to confirm its financial targets for the year as a whole.

During the period, products such as Tivicay, FluLaval Q-IV, Tafinlar, Relvar Ellipta and Anoro Ellipta all achieved key regulatory milestones, thus aiding the firm's efforts to expand its respiratory portfolio.

Agreements were also signed to divest its Lucozade and Ribena brands to Suntory and Arixtra/Fraxiparine to Aspen.

Chief executive officer Sir Andrew Witty said: "This quarter marks continued delivery for GlaxoSmithKline of broadly-based sales growth, significant new product output from the pipeline and further growth in returns to shareholders."

Earlier this month, the company announced plans to file for European regulatory approval of its groundbreaking new malaria vaccine, based on its success in phase III clinical trials.