GlaxoSmithKline lifts sales but takes legal hit

21st Jul 2010 12:12

Drugmaker GlaxoSmithKline posted a rise in turnover in the second quarter, benefiting from bird 'flu vaccine sales and growth in emerging markets, but sustained a loss due to a charge for settling legal cases. Sales in the three months to June 30 were up to £7.025bn from £6.747bn over the same period the previous year, but the company lost £304m during the period.Total vaccine sales were £939m, including £275m from H1N1 vaccine, resulting in pharmaceutical sales of £5.8bn. Growth in emerging market sales within pharmaceuticals rose by 17%.Consumer healthcare sales rose by 3% to £1.25bn.Glaxo sustained a £1.57m hit for legal settlements. The legal charge settlements include an investigation by the US Government into the company's former manufacturing site at Cidra, Puerto Rico; product liability and anti-trust litigation relating to Paxil (paroxetine), and product liability cases regarding Avandia (rosiglitazone) and other products.