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GlaxoSmithKline’s Revenue Was Flat in Second Quarter

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GlaxoSmithKline’s revenues

GlaxoSmithKline (GSK) reported revenues of 7.3 billion pounds during the second quarter of 2018, nearly flat as compared to the second quarter of 2017. Revenues rose 4% at constant exchange rates, offset by a 4% negative impact of foreign exchange. The strengthening of the pound negatively affected overall revenues during the second quarter of 2018.

The above chart compares the quarterly revenues for GlaxoSmithKline since the first quarter of 2017.

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Revenue performance in the last quarter

GlaxoSmithKline’s product portfolio is classified into three business segments: the Pharmaceuticals segment, the Consumer Healthcare segment, and the Vaccines segment. GlaxoSmithKline reported growth in operating revenues across all three segments during the second quarter of 2018, but the negative impact of foreign exchange more than offset the revenue growth during the quarter.

The Pharmaceuticals segment reported revenues of ~4.2 billion pounds during the second quarter of 2018, a 1% increase in operating revenues offset by a 4% negative impact of foreign exchange during the quarter. The growth in operating revenues was driven by the strong performance of immuno-inflammation products and HIV products.

The vaccines segment reported revenues of 1.2 billion pounds during the second quarter of 2018, a 16% increase in operating revenues offset by a 3% negative impact of foreign exchange during the quarter. The growth in operating revenues was driven by the strong performance of the Hepatitis vaccine and the Shingrix vaccine.

The Consumer Healthcare segment reported revenues of ~1.8 billion pounds during the second quarter of 2018, a 3% increase in operating revenues offset by a 4% negative impact of foreign exchange. The growth in operating revenues was driven by the strong performance of oral health products and skin health products.

The Invesco BLDRS Developed Markets 100 ADR ETF (ADRD) holds 2.4% of its total investments in GlaxoSmithKline (GSK), 5.4% in Novartis (NVS), 0.5% in Teva Pharmaceuticals (TEVA), and 2.5% in Sanofi (SNY).

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