GlaxoSmithKline reports latest financial results

GlaxoSmithKline this week published its financial outcome for the whole of 2009, revealing a rise in sales growth of three per cent.

The company witnessed an increase in sales within its consumer healthcare segment, which rose by seven per cent in value during the timeframe, while its sales from western markets rose by 30 per cent.

Its turnover stood at 28,368 million pounds for the full year and 8,094 million pounds during the final quarter of 2009.

Andrew Witty, chief executive officer of GlaxoSmithKline, said that last year saw the firm return to sales growth after the trials of the recession.

“Our strategy is delivering and I believe that GSK is now moving to a position where we can deliver our goal of long-term sustainable financial performance,” he continued.

Last week, GlaxoSmithKline announced that it has established a specialist unit for the research and development of therapies for rare conditions, through which it will leverage existing capabilities and partnerships and build upon licensing opportunities.