Pharma is back on a roll with bumper crop of results
Following on from the major financial results released last week, some of the industry’s biggest companies reported their mixed fortunes this week.
Pharma giants down
UK pharma giant GlaxoSmithKline saw sales slump 10% in disappointing first quarter results. Sales were down to £5.61 billion ($9.43 billion). Respiratory sales were down while oncology sales were up, thanks to Votrient and Promacta, and the new launch of Tafinlar. US pharma giant Merck & Co reported first-quarter 2014 revenues of $10.26 billion, down 3%. This was due in part to combined sales of cholesterol drugs Zetia (ezetimibe) and Vytorin (ezetimibe/simvastatin) which fell 5% to $972 million, driven by lower demand in the USA.
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