GSK reports earnings

GlaxoSmithKline (LSE:GSK; GSK) reported second quarter EPS of 20p, up 10% from 19p in the same period in 2004 (using constant exchange rates). Pharmaceutical revenues were up 6% to L4.5 billion ($8.2 billion) in the second quarter, driven by sales of Seretide/ Advair for asthma and chronic obstructive pulmonary disease (COPD) and diabetes drugs Avandia/ Avandamet. Seretide sales were up 22% to L725 million ($1.3 billion), while Avandia posted second quarter sales of L352 million ($644 million), up 16% versus the second quarter of 2004. ...