GlaxoSmithKline reports 10% turnover decline

Pharmaceuticals giant GlaxoSmithKline has reported a 10% decline in turnover following the loss of £1bn of sales in relation to its pandemic flu products and herpes treatment drug Valtrex.

Pharmaceuticals giant GlaxoSmithKline has reported a 10% decline in turnover following the loss of £1bn (€1.12bn) of sales in relation to its pandemic flu products and herpes treatment drug Valtrex.

However, the drugmaker said net profit rose 14% to £1.5bn (€1.69bn) in the first quarter, despite the decline in sales to £6.6bn (€7.45bn).