Glaxo beats hopes with profits rise

Pharmaceuticals giant GlaxoSmithKline today said soaring sales of its asthma drug Advair and diabetes medication Avandia drove profits up 16%.

Glaxo’s haul for 2005 of £6.73bn (€9.8bn) beat expectations in the City and came on the back of an 8% rise in turnover to £21.66bn (€31.5bn).