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Financial Reports: GlaxoSmithKline 2Q11

Avandia, Valtrex and pandemic losses reduce revenues

By: Gil Roth

President, Pharma & Biopharma Outsourcing Association

GSK 2Q 2Q Revenues: GBP 6.7 billion (-4%) 2Q Earnings: GBP 1.1 billion (loss of GBP 252 million in 2Q10) YTD Revenues: GBP 13.3 billion (-7%) YTD Earnings: GBP 2.7 billion (+139%) All results in GBP, not dollars. Comments: Pharmaceuticals and Vaccines revenues fell 3% to GBP 5.4 billion in 2Q11, as a result of Avandia and Valtrex losses, in concert with reduced pandemic sales compared to 2010. YTD revenues fell 9% to GBP 10.7 billion. Pharma/Vaccine sales in the U.S. were down 4% for 2Q an...

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