GlaxoSmithKline 3Q Revenue Rises 4%

By Denise Roland Features Dow Jones Newswires

GlaxoSmithKline PLC said earnings and revenue rose in the third quarter, thanks to growing sales for the company's prescription drugs and consumer healthcare products, and a positive currency effect.

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U.K.-based Glaxo said revenue rose 4% to £7.84 billion ($10.39 billion) in the three months to September 30, in line with analyst expectations.

Net profit increased 50% to £1.21 billion, due to lower costs related to Glaxo's $20 billion asset-swap deal with Novartis.

Adjusted operating profit, a measure which strips out one-time items, increased 7% to £2.47 billion, beating analyst expectations of £2.42 billion. Stripping out currency effects, revenue increased 2% and adjusted operating profit rose 5%.

Write to Denise Roland at

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October 25, 2017 07:41 ET (11:41 GMT)