Sales & Earnings In Brief
GSK consumer sales grow despite overall dip: Factors including U.S. health care reform and austerity measures in Europe slow GlaxoSmithKline's third-quarter sales, even as consumer health sales grew 4 percent to £1.26 billion ($1.98 billion). The consumer product growth came in markets outside the U.S. and Europe, which were down 4 percent and 2 percent, respectively, the U.K. firm said Oct. 21. Global OTC drug sales were flat, up 1 percent, to $946.7 million. CEO Andrew Witty noted success in the smoking cessation category, particularly the launch of Nicorette Mini-Lozenges. Oral care sales grew 4 percent to $630 million worldwide, with Sensodyne toothpaste reaching double-digit growth for the sixth consecutive quarter. Witty added the firm has "a lot of interesting stuff coming on the Sensodyne portfolio." Glaxo said withdrawal of the Rx weight-loss drug Avandia from the European market and restrictions on its sales in the U.S., following safety reviews, and generic competition to the Rx herpes treatment Valtrex also influenced its overall performance as sales fell 2 percent to $10.7 billion. The firm's third-quarter earnings, excluding restructuring costs, fell 3.5 percent to $2 billion
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