Arab Today, arab today glaxosmithkline brushes off china probe to post solid 2013 profits
Last Updated : GMT 08:09:48
Arab Today, arab today
Arab Today, arab today

GlaxoSmithKline brushes off China probe to post solid 2013 profits

Arab Today, arab today

Arab Today, arab today GlaxoSmithKline brushes off China probe to post solid 2013 profits

London - AFP

GlaxoSmithKline, the British drugs giant facing a series of probesinto alleged staff corruption, announced sliding profits on Wednesday, one weekafter unveiling a group makeover.GSK's net profits slumped 30 percent to £668 million ($1.12 billion, 811 millioneuros) in the first quarter compared with the first three months of 2013, thecompany said in an earnings statement.Revenue fell 10 percent to £5.61 billion, while GSK said that a Chinese corruptioninvestigation had  impacted sales growth at the company's emerging marketsdivision.In a further blow, Polish prosecutors earlier this month said they had extended aprobe into allegations that GlaxoSmithKline bribed doctors into promoting one ofits drugs.The company is also investigating alleged corruption by staff at its pharmaceuticalsdivision in Iraq.    GSK last year admitted that senior employees appeared to have breached Chineselaw, after Beijing authorities alleged that staff had bribed government officials,pharmaceutical industry groups, hospitals and doctors to promote sales."The group takes these allegations seriously and is continuing to co-operate fullywith the Chinese authorities," GSK said in Wednesday's earnings statement.It added that it was not currently possible "to make a reliable estimate of thefinancial effect, if any, that could result" from the China probe.The pharmaceutical sector's landscape has meanwhile changed dramatically overthe past week, largely owing to deals struck between GlaxoSmithKline and Swissrival Novartis -- and could alter even further should US giant Pfizer succeed with a$100-billion bid for British company AstraZeneca. A string of takeovers and ventures will see Novartis sharpen its focus on the high-grossing cancer sector, GSK boost its share in vaccines and US company Eli Lillystrengthen its animal health unit.Also last week, Valeant Pharmaceuticals offered to acquire Botox-maker Allergan formore than $45 billion.On Monday, Pfizer insisted that it wanted to secure a blockbuster merger withAstraZeneca that will fuel research in cancer after revealing that an informalapproach worth almost $100 billion had been rejected.The huge shake-up comes as top pharmaceutical companies are battling againstpatents expiring on key brands and deep cuts to government healthcare spending worldwide.

Name *

E-mail *

Comment Title*

Comment *

: Characters Left

Mandatory *

Terms of use

Publishing Terms: Not to offend the author, or to persons or sanctities or attacking religions or divine self. And stay away from sectarian and racial incitement and insults.

I agree with the Terms of Use

Security Code*

Arab Today, arab today glaxosmithkline brushes off china probe to post solid 2013 profits Arab Today, arab today glaxosmithkline brushes off china probe to post solid 2013 profits

 



Arab Today, arab today
Arab Today, arab today Mohamed Bahari prepares new collection for spring 2017

GMT 06:15 2017 Monday ,27 February

Mohamed Bahari prepares new collection for spring 2017
Arab Today, arab today 17.4 million tourists visit UAE in 2016

GMT 00:47 2017 Monday ,27 February

17.4 million tourists visit UAE in 2016
Arab Today, arab today Sheds light on major steps in 12-year career

GMT 06:07 2017 Monday ,27 February

Sheds light on major steps in 12-year career
Arab Today, arab today UN envoy sets out framework

GMT 07:25 2017 Monday ,27 February

UN envoy sets out framework
Arab Today, arab today Kalam Nawaem made a difference in social issues

GMT 06:43 2017 Tuesday ,28 February

Kalam Nawaem made a difference in social issues
View News in Arabic - Business: أسواق مالية
Arab Today, arab today
Arab Today, arab today
Arab Today, arab today Penguins in the age of dinos

GMT 11:44 2017 Saturday ,25 February

Penguins in the age of dinos
Arab Today, arab today Pluto's unruly moons

GMT 06:31 2015 Thursday ,04 June

Pluto's unruly moons
Arab Today, arab today 'Constructive' Vauxhall talk with union

GMT 08:54 2017 Saturday ,25 February

'Constructive' Vauxhall talk with union
Arab Today, arab today Tesla back into red but revenue grows

GMT 07:27 2017 Thursday ,23 February

Tesla back into red but revenue grows
Arab Today, arab today Aspires present the story of Egypt’s first president

GMT 06:18 2017 Sunday ,26 February

Aspires present the story of Egypt’s first president
Arab Today, arab today Ex-yoga missionary unleashes rage

GMT 12:16 2017 Thursday ,23 February

Ex-yoga missionary unleashes rage

GMT 06:42 2017 Saturday ,25 February

Reasons for the delay 'On the Stairs of Servants'

GMT 05:14 2017 Thursday ,23 February

UK appoints 1st Scotland Yard chief in 188 years

GMT 18:23 2017 Friday ,24 February

Fadi explains secrets of  Nancy Ajram's newlook

GMT 10:28 2017 Wednesday ,22 February

Milan laughs while Rome cries

GMT 19:45 2017 Monday ,20 February

Sarah Belamesh designs antiques of "ceramic"

GMT 10:51 2017 Saturday ,25 February

Pigs with edited genes show resistance

GMT 14:04 2017 Friday ,24 February

Messi visit will contribute in tourism

GMT 13:12 2015 Saturday ,09 May

Sheikh Sultan opens Sharjah Centre

GMT 06:28 2017 Tuesday ,28 February

Dumbphones survive rise of the smartphone

GMT 22:42 2017 Thursday ,23 February

Nasima Gamei revives heritage in jewelries
Arab Today, arab today
Arab Today, arab today
 
 Arab Today Facebook,arab today facebook  Arab Today Twitter,arab today twitter Arab Today Rss,arab today rss  Arab Today Youtube,arab today youtube  Arab Today Youtube,arab today youtube
arabstoday arabstoday arabstoday arabstoday
arabstoday arabstoday arabstoday
arabstoday
بناية النخيل - رأس النبع _ خلف السفارة الفرنسية _بيروت - لبنان
arabstoday, Arabstoday, Arabstoday