Shares in GlaxoSmithKline (LON:GSK) jumped more than 3 percent this morning after the company reported second-quarter earnings per share (EPS) that were slightly higher than forecast by analysts.
Sales also rose 6 percent to 5.9 billion pounds in the last quarter. They currently have a market capitalization of around £65 billion.
The drugmaker recently sold its marketed cancer drugs to Novartis, and bought the Swiss group’s vaccines. However, the company experienced a slide in sales of the lung drug Advair after an introduction of a generic drug in the US.
Looking long-term, the company currently has several new drugs in the research stage and around 40 new drugs and vaccines in Phase II or Phase III clinical development. They have also just become the first drug company to be given approval from European Medicines Agency for a malaria vaccine.
Chief Executive Andrew Witty is under pressure to deliver recovery after poor profit performance over the past few years.
GlaxoSmithKline plc. (GSK) is a healthcare company that researches and develops pharmaceuticals, vaccines and consumer healthcare products. They are currently trading up 3.16% at 1371 pence per share.
