GlaxoSmithKline gets profit boost on HIV drugs and sterling

GlaxoSmithKline reported its first increase in quarterly profit since 2013, helped by sales of its HIV medicines and a weakening sterling.

Profit excluding certain costs rose to 19.8 pence a share, which topped the 17.9-pence average of analyst estimates.

The last year-over-year increase in earnings, using that measure, was in the third quarter of 2013. Glaxo completed a three-part transaction with Novartis during the first quarter of 2015.