Glaxo Wellcome Sales Rise Fueled By New Products
UK drugmaker Glaxo Wellcome said sales for the year ended December 31,1996, - the first full year reflecting the merger of Glaxo and Wellcome - increased 6% to L8.34 billion ($13.49 billion), and were fueled by new products. Trading profit was up 18% at L3.13 billion while pretax profit increased 18% to L2.96 billion ($4.79 billion). Earnings per ordinary share rose 13% to 56.7 pence.
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