Glaxo confident after profits rise

A strong performance in the US helped GlaxoSmithKline bank annual profits of £7.8bn (€11.73bn) today as sales of its asthma and diabetes drugs continued to rise.

At the same time as the 16% rise in annual profits, the group posted an upbeat outlook statement for the year ahead with five new products planned for launch, including its vaccine to prevent cervical cancer Cervarix and Tykerb, an oral treatment for breast cancer.