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Avandia losses, plus generics put a drain on revenues.
October 21, 2010
By: Tim Wright
Editor-in-Chief, Contract Pharma
GlaxoSmithKline 3Q10 3Q10 Revenues: $10.6 billion (-2%) 3Q10 Earnings: $2.1 billion (-2%) YTD Revenues: $32.6 billion (+4%) YTD Earnings: $3.8 billion (-38%) Comments: Avandia sales for the quarter dropped 65% to $111 million, and will become negligible after 4Q10, a result of severe restrictions in the U.S. and withdrawal in Europe. For the year, U.S. pharma revenues have dropped 7% to $8.9 billion, primarily due to Avandia, generic Valtrex, and loss of Boniva and WellButrin XL. ...
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