Glaxo's Profit Exceeds Estimates as HIV Drug Sales Soared
- Vaccines revenue gained 32 percent; consumer up 55 percent
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GlaxoSmithKline Plc, the U.K.’s biggest drugmaker, reported third-quarter earnings that surpassed analysts’ estimates as sales of HIV drugs, vaccines and consumer health-care products climbed. The shares jumped.
Profit excluding certain costs dropped 5 percent to 1.72 billion pounds ($2.6 billion), assuming there was no currency fluctuation, the London-based company said in a statement. That compared with the 1.48 billion pounds average of 10 analysts’ estimates compiled by Bloomberg. Earnings per share declined to 23 pence, topping the 19.4 pence a share average of 11 analyst estimates.