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GSK has a ‘positive start’ to 2017

Published on: Wednesday 26th April 2017
Categorised under: Work , Business, GSK, Investment, Ulverston

The pharmaceutical firm has made a "positive start" to 2017 after it reported a doubling of pretax profits.

GSK in Ulverston - a partner of Choose Cumbria - is one of Cumbria's largest employers with more than 300 staff. It has committed to building a new £350m biopharm drugs facility in the town.

The company has reported a pretax profit of £1.55bn for the first quarter of this year, an increase of £560m tin 2016.

Revenue also rose to £7.38bn from £6.22bn.

The company has reported sales growth across all of its business areas.

These results, which were reported to the London Stock Exchange this afternoon, are the first to be delivered under its new Barrow-born chief executive Emma Walmsley, who took over from Andrew Witty in March.

She said: "This is a positive start for the year with sales growth in all three of our businesses and an improvement in the group's operating margin.

"Our clear focus is on commercial execution and preparation for near-term launches in respiratory, HIV and vaccines.

"We will be reviewing these and other priorities for the business with shareholders alongside our second quarter results on July 26."

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