GlaxoSmithKline says net profit down 18% October 31, 2012 - 18:00 AMT PanARMENIAN.Net - Pharmaceutical company GlaxoSmithKline says net profit was 18 percent lower in the third quarter as sales fell in Europe and the United States, AP reports. For the three months ending Sept. 30, GSK said Wednesday that net profit was 1.12 billion pounds ($1.8 billion), down from 1.38 billion pounds last year. Revenue fell 8 percent to 6.5 billion pounds. Sales declined by 9 percent in Europe, where the company faced pricing pressure from government austerity drives. U.S. sales fell 6 percent following the end of a co-promotion agreement for incontinence drug Vesicare and declining sales of Avandia for diabetes. Sales in emerging markets rose 11 percent and overtook Europe as the company's biggest market in terms of revenue. GSK shares were down 0.7 percent at 1,410 pence at midday.   Top stories Yerevan has dismissed Turkey’s demand to shut down the Armenian nuclear power plant as “inappropriate”. Armenia will loan 2.9 billion drams to Nagorno Karabakh (Artsakh), according to a draft government decision. The Ministry of Ecology and Natural Resources of Azerbaijan has “strongly condemned” Armenia’s decision. Kerobyan has said that for the first time in the history of Armenia, the volume of foreign direct investments amounted to about $1 billion.   Partner news |  Latest news Viva sees growing demand for cloud services  In recent years, medical institutions are starting to make use of Viva’s cloud servicesTurkey replacing term "Central Asia" with "Turkestan" in textbooks The Turkish Ministry of Education is replacing the term "Central Asia" with "Turkestan" in textbooks.Armenian, German presidents meet in Berlin Armenian and German Presidents Vahagn Khachaturyan and Frank-Walter Steinmeier met in Berlin.Armenia assumes presidency of Mediterranean Network of Regulatory Authorities The Commission on Television and Radio of Armenia said it expects productive cooperation in various formats. |
