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Financial Report: GSK

Revenues drop 10% in the quarter

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By: Kristin Brooks

Managing Editor, Contract Pharma

GSK   1Q Revenues: £5.6 billion (-10%)   1Q Earnings: £1.5 billion (-18%)   Comments: Pharmaceutical sales were £3.8 billion, down 4% and Vaccines sales were £658 million, up 3% with growth in Europe (+3%), Emerging Markets (+2%), Japan (+13%), offset by a 10% decline in the U.S., impacted by continued Advair declines (-20%) and quarterly volatility in wholesaler/retailer stocking patterns. HIV sales were up 4%, driven by uptake of recently launched integrase inhibitor, Tivicay. Oncology product...

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