Financial Report: GlaxoSmithKline 2Q

GlaxoSmithKline 2Q

2Q Revenues: $10.5 billion (-10%)

2Q Earnings: $2.3 billion (-12%)

YTD Revenues: $20.3 billion (-12%)

YTD Earnings: $3.9 billion (-25%)

Comments: Pharmaceutical sales were $8.7 billion in the quarter (-11%). Seretide/Advair sales were flat at $1.9 billion. Valtrex sales were $590 million (+7%). Combivir sales were down 23% to $160 million. Epzicom/Kivexa sales were $202 million (-2%). Seroxat/Paxil sales were $215 million (-15%). Avodart sales were up 14% to $208 million. Avandia product sales were $309 million (-20%). Augmentin sales were $230 million (-11%). Vaccine revenues in the quarter were up 9% to $1.2 billion, with Rotarix sales up 59% to $110 million and Cervarix sales of $113 million, up from $30 million in 2Q08. R&D expenses were down 6% to $1.5 billion.

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