Glaxo profit soars 50pc on shingles drug sales

A GlaxoSmithKline logo is seen outside one of its buildings in west London. — Reuters pic
A GlaxoSmithKline logo is seen outside one of its buildings in west London. — Reuters pic

LONDON, May 1 — British drugmaker GlaxoSmithKline announced today that net profit soared 51 per cent in the first quarter, boosted by increasing demand for its shingles vaccine Shingrix.

Profit after tax leapt to £830 million (RM4.48 billion) in the three months to the end of March, GSK said in a result statement.

That compared with net profit of £549 million in the same period of 2018.

Group sales grew six per cent to £7.7 billion in the reporting period.



Vaccines turnover jumped 20 per cent to £1.52 billion in a performance that was “primarily driven by growth in sales of Shingrix”, GSK said.

“Strengthening our (drugs) pipeline remains our number one priority and we reported positive data for several potential new medicines in HIV and oncology during the quarter,” chief executive Emma Walmsley said in the statement. — AFP

Source: The Malay Mail Online





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