Company News: GlaxoSmithKline and Covidien
GlaxoSmithKline reported steady second-quarter revenue, with total “underlying sales” growth as being up 5%. Accounting for some of this increase in sales was the pharma's pandemic flu products, as well as type 2 diabetes drug Avandia, and genital herpes drug Valtrex. US revenues grew by about 3%, much in part driven by sales for Advair, indicated for the treatment of asthma and COPD.
Covidien has released Q3 revenue information, reporting net sales as being up 14%, and an increase of medical device sales by 22%. The company did not include any significant pipeline updates in its third-quarter report.