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Business News in County Durham

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Barnard Castle's GlaxoSmithKline buoyed by 'encouraging results' as sales and profits rise

Barnard Castle's GlaxoSmithKline buoyed by 'encouraging results' as sales and profits rise

A DRUGS firm behind a £40m County Durham factory expansion has reported rising full-year sales and profits.

GlaxoSmithKline saw turnover rise three per cent at constant exchange rates to £30.2bn in 2017, while adjusted operating profit increased five per cent to £8.56bn.

The business, which runs a major manufacturing operation in Barnard Castle, County Durham, said its performance was helped by successful respiratory treatments and HIV products.

Bosses added all three of the group's divisions - pharmaceuticals, vaccines and consumer healthcare - posted solid sales growth.

Speaking this week, chief executive Emma Walmsley, who took the top job last year, said: “In 2017, we delivered encouraging results from across the company with sales growth in each of our three global businesses.

“With the sales momentum we anticipate from new and recent launches and focused improvements in operating performance, we are increasingly confident in our ability to deliver mid to high single digit growth in adjusted earnings per share.”

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Commercial Property In County Durham

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