GlaxoSmithKline Pharmaceuticals Net Sales up 13% in Second Quarter of FY 2011

GlaxoSmithKline Pharmaceuticals Limited has announced its financial results for the second quarter ended 30th June 2011. While the net Sales grew by 13 percent, Sales of the core Pharmaceuticals and vaccines business grew by 14 percent. Profit After tax (before Exceptionals) grew by 9 percent during the quarter, and the Operating Profit margin was maintained at 35 percent in line with the first quarter of 2011. Planned investments in field force expansion for the year continued during the quarter. Commenting on the performance during the quarter, Dr. Hasit B. Joshipura, Managing Director, said, “The Company’s growth has been in line with the market growth. In particular, Oncology, Dermatologicals and Mass Specialty therapies have grown well. In addition to the base effect, vaccines have shown strong market competitive growth.” Apart from two original products from the GSK pipeline in Oncology and Haematology, a branded generic and a product in Stiefel

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