GlaxoSmithKline CEO hails ‘good progress’ in first half of 2010

GlaxoSmithKline chief executive officer (CEO) Andrew Witty has stated that the company has continued to make progress towards its growth targets in the first half of 2010.

In the company’s latest financial report, Mr Witty said he has been encouraged by the firm’s sales performance in the first six months of 2010, which saw total sales grow by seven per cent year-on-year to 14.4 billion pounds.

He said this was achieved despite increasingly challenging pharmaceutical sector conditions and has been accompanied by numerous steps to improve GlaxoSmithKline’s operational efficiency.

The report also highlighted the progress made in research and development in the last six months, with drugs such as Benlysta making regulatory progress.

Mr Witty added: “This quarter, as we continue to control and reduce costs, we have again confirmed that we expect to deliver a broadly stable operating profit margin for 2010.”

This comes after GlaxoSmithKline was named top of the Access of Medicines Index last month, in recognition of its efforts to deliver treatments to developing nations.