GlaxosmithKline said today that third-quarter profits rose by 22 per cent.
The company said pre-tax profits for the three months to September 30th were up from £1.39 billion sterling ($2.33bn) to £1.69 billion.
The positive results follow the launch of Levitra, its rival to Pfizer's successful impotence treatment Viagra.
Turnover grew from £5 billion to £5.47 billion, with pharmaceutical sales ahead 10 per cent at £5.46 billion, driven by a strong performance in the US.
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GSK said Levitra - developed in collaboration with Bayer - has captured 12 per cent of new prescriptions for impotence treatments.
Sales of Seretide, its top-selling asthma inhaler, were up 40 per cent.
AFP