UK-based pharmaceutical major GlaxoSmithKline saw total group turnover decline 1% in 2010, falling to £28.4bn.
Pharmaceutical turnover fell 2% to £23.4bn, while consumer healthcare sales rose 5% to £5bn. The company was significantly hit by pandemic treatments such as Valtrex and Avandia and, excluding them, group sales rose 4.5%.
US pharmaceutical witnessed a significant 11% decline to £7.6bn due to Valtrex generic competition and lower than expected sales of Avandia.
Despite US healthcare reforms and the discontinuation of GlaxoSmithKline’s promotion of Boniva, sales rose 3% when excluding pandemic products.
New products launched since 2007 grew 29% and contributed 8% of sales in 2010.