Pharmaceuticals giant GlaxoSmithKline said today that pre-tax profits jumped 13% in 2000 to £5.33 billion, showing that the newly merged group had got off to a good start.
The group, born from the fusion of British drug giants Glaxo Wellcome and SmithKline Beecham in December, said that combined sales increased 12% to £18.1 billion in 2000, compared to figures for 1999.
'These results, achieved while we were separate companies, demonstrate the strength and performance of the two organisations we have brought together to form GSK,' chief executive Jean-Pierre Garnier said.
'GlaxoSmithKline is in very good shape and off to a good start,' he said. 'The merger has been completed, we are one, we operate as one,' Garnier added. 'We have become very quickly in spirit a new company. Our 100,000 employees are very excited about the opportunities that are open to all of us.'
The company said new products performed particularly well, accounting for more than one-sixth of total sales. Overall pharmaceutical sales grew 10% in 2000, with sales of central nervous system drugs up 16%, respiratory drugs up 15% and anti-viral drugs, including HIV drugs, up 14%. Drug sales in the US grew 15%.
