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GSK's Q3 sales grow 3 per cent

GlaxoSmithKline recorded a growth in sales of 3 per cent in its financial results for the third quarter of 2011, as net income remained level

GlaxoSmithKline (GSK) has recorded a growth in sales of 3 per cent in its financial results for the third quarter of 2011.

The UK-based pharmaceutical company had a turnover of $7.10bn for the period compared to $6.81bn in 2010.

Net profit for GSK remained stationery at $1.49bn, however, as costs related to selling and administration rose.

Vaccines were a particularly strong area of growth for GSK, with revenue in the division increasing by 21 per cent. This was mainly related to sales of Cervarix as part of Japan's national HPV programme.

Total turnover grew 34 per cent in Japan during the quarter, with the strong performance of Avodart following its recent launch also contributing to strong sales in the region.

Emerging markets also saw increased revenue, growing by 11 per cent, helping the company overcome a drop in sales of 5 per cent in Europe and 1 per cent in the US.

26th October 2011

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