Tags: GSK | GlaxoSmithKline | Earnings | Drugs

GlaxoSmithKline Profits Nearly Triple

Wednesday, 05 February 2014 08:40 AM EST

GlaxoSmithKline says fourth-quarter earnings nearly tripled and sales rose 5 percent, even as an ongoing investigation hurt business in China.

Net income rose to 2.5 billion pounds ($4.1 billion) from 848 million pounds a year earlier, thanks partly to profits on the sale of some businesses. Sales grew, particularly in India, despite a 29 percent drop in China for pharmaceuticals and vaccines.

The company has been hit by allegations by the Chinese government that four of its employees bribed doctors and hospitals to prescribe medications.

Chief Executive Andrew Witty said Wednesday the company is making fundamental changes to its business, including how it interacts with customers.

The company said in December that it would stop paying doctors to promote its products at speaking engagements and scrap individual sales targets.

© Copyright 2026 The Associated Press. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.


Companies
GlaxoSmithKline says fourth-quarter earnings nearly tripled and sales rose 5 percent, even as an ongoing investigation hurt business in China.
GSK,GlaxoSmithKline,Earnings,Drugs
129
2014-40-05
Wednesday, 05 February 2014 08:40 AM
Newsmax Media, Inc.

Sign up for Newsmax’s Daily Newsletter

Receive breaking news and original analysis - sent right to your inbox.

(Optional for Local News)
Privacy: We never share your email address.
Join the Newsmax Community
Read and Post Comments
Please review Community Guidelines before posting a comment.
 
Get Newsmax Text Alerts
TOP

Newsmax, Moneynews, Newsmax Health, and Independent. American. are registered trademarks of Newsmax Media, Inc. Newsmax TV, and Newsmax World are trademarks of Newsmax Media, Inc.

NEWSMAX.COM
MONEYNEWS.COM
© Newsmax Media, Inc.
All Rights Reserved
NEWSMAX.COM
MONEYNEWS.COM
© Newsmax Media, Inc.
All Rights Reserved