GlaxoSmithKline (GSK) made more profit in the first quarter than a year earlier. Tocht maintains that the British pharmaceutical company expects that the profit for the whole of 2019 is probably no longer as high as last year.
In the past reporting period, sales were in the order of £ 7.7 billion. That is about 8.9 billion euros and 6 percent more than a year earlier. The adjusted earnings per share increased by 22 percent to 30.4 pence. Below the line, the result also increased by more than a fifth to £ 985 million.
At the beginning of this year, GSK expressed the expectation that the adjusted earnings per share will fall by around 5 to 9 percent this year due to the arrival of a generic counterpart to GSK’s asthma medicine Advair. That was a real blockbuster for GSK. But in the near future the company will have to have more of other resources. Rival Mylan was previously approved to offer a competitive agent to Advair in the United States.