Revenue up 17%; adjusted earnings per share up 66%. GlaxoSmithKline
But that's part of the problem. Revenue and profits in the fourth quarter were boosted by the swine flu. Sales of Relenza, the company's antiviral treatment -- like Roche and Gilead Sciences'
Subtract those two gains out and revenue was up a much more modest 1.8%. Not horrible considering the patent losses that Glaxo has been dealing with, but the kosher-friendly results aren't that exciting either.
Even if pandemic flu sales stay at the same level this year -- and Glaxo seems to think they will -- it won't give vaccine makers like Glaxo, sanofi-aventis
Glaxo's future isn't the swine flu, but delivering more drugs with fewer expenses overall is. To that end, the company announced today that it was cutting more jobs and switching its research and development focus from depression and pain drugs to neurodegenerative and neuroinflammatory diseases, as well as rare diseases. Management thinks it can get a higher rate of return from the switch, which is, of course, what every investor is looking for.
Glaxo's extensive partnerships with small drug developers like Exelixis
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