GLAXO: Quien siembra vientos (en el Este), recoge tempestades

GlaxoSmithKline Plc (GSK)’s third-quarter sales of pharmaceuticals and vaccines in China fell 61 percent after an anti-corruption probe began there in July, and the drugmaker gave no outlook on how long the downturn would last. 

Revenue from consumer health-care products in China fell 29 percent, the London-based company said today in a statement. Total sales rose 1 percent to 6.51 billion pounds ($10.5 billion), missing analysts’ average estimate of 6.64 billion pounds. U.S. sales also fell short of analysts’ predictions. 

Glaxo’s woes in China are benefiting rival drugmakers. A “dramatic decline” in Glaxo’s Seretide lung drug and Flixonase nasal spray in the country led to a rapid acceleration in sales of AstraZeneca Plc (AZN)’s Symbicort inhaler, Barclays Plc analysts said last week. Seretide sales in China fell 56 percent in the quarter, and revenue from hepatitis B drugs Zeffix and Hepsera dropped 73 percent and 76 percent, respectively. 

“We very clearly recognize there is a profound need to earn the trust of the Chinese people again, and we will take every action to do so,” Chief Executive Officer Andrew Witty said in a media conference call today. “It is still too early for us to quantify the longer-term impact of the investigation on our performance in China.” (Más)

Imagen: Viento del este

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