Drugmaker GSK sees sales rise thanks to new products

Health CareAssociated Press

Drugmaker GlaxoSmithKline says third-quarter sales rose 4 percent, driven by new products such as the company's Tivicay HIV treatment and Ellipta respiratory therapy.

Sales increased to 7.84 billion pounds ($10.3 billion) from 7.55 billion pounds in the same period last year. Net income jumped 50 percent to 1.21 billion pounds, primarily because of fewer one-time costs.

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The results come only days after the U.S. Food and Drug Administration licensed shingles vaccine Shingrix, which has been shown to be 90 percent effective and last at least four years in company-sponsored studies. The vaccine is one of three treatments in GSK's pipeline that are considered critical to the company.

CEO Emma Walmsley says targeted cost savings and restructuring and integration benefits "supported investment in our new products and (research and development) pipeline."