Date
23 October 2017

Glaxo returns to growth despite China problems, WSJ says

GlaxoSmithKline PLC managed to increase sales marginally last year despite problems in China, reversing two years of falling revenue, the Wall Street Journal reported Wednesday. The UK firm has been struggling to offset a drag on sales from older, off-patent drugs with revenue from new launches. It had a very successful year in 2013 for drug development, managing an unprecedented five new drug approvals in the US, the report said. Over the next two years, the company plans to launch 10 late-stage trials for potential new drugs, it said. Glaxo reported a 1 percent rise in 2013 sales to 26.51 billion British pounds (US$43.24 billion).

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