British drugs giant GlaxoSmithKline announced today first-quarter pre-tax profit of £1.388 billion sterling (euro 2.23 billion), an increase of 19 per cent from the previous year.
Sales grew by 16 per cent from the previous year to £4.76 billion, the company said in a statement.
GlaxoSmithKline was formed in December 2000 by the merger of British drugs companies Glaxo Wellcome and SmithKline Beecham.
Chief executive officer Mr Jean-Pierre Garnier said "GlaxoSmithKline has demonstrated strong momentum in this first set of results delivered by the new company."
He said the performance "reflects particularly healthy sales in the USA and strong contributions from our new products."
Investors welcomed the results, bidding the group's share price up 0.9 per cent to £18.27 on a market slightly weaker overall.
AFP
