Glaxo Quarterly Profit Misses Estimates on Europe Sales
This article is for subscribers only.
GlaxoSmithKline Plc, the U.K.’s largest drugmaker, reported first-quarter profit and sales that missed analyst estimates as revenue declined in Europe.
Earnings excluding some items were 27.3 pence a share, London-based Glaxo said in a statement today. That missed the average estimate of 29 pence from 11 analysts surveyed by Bloomberg. Sales increased 1 percent to 6.64 billion pounds ($10.7 billion), missing the average analyst estimate of 6.83 billion pounds.