News | News By Subject | News by Disease News By Date | Search News
Get Our FREE
Industry eNewsletter
email:    
   

GlaxoSmithKline (GSK) CEO Says Europe Market "Much" Worse Than Expected



6/28/2012 7:39:09 AM

GlaxoSmithKline Plc (GSK) is having a tougher time than expected generating sales in Europe as the credit crisis leads governments to cut prices, Chief Executive Officer Andrew Witty said. “What we’ve seen in the last three, four months is a much higher level of price pressure than we had anticipated, which is of course making short-term trading more challenging than expected,” Witty said in an interview in Brussels today. “Nothing has improved since the first quarter,” when Glaxo’s European sales dropped 6 percent from the previous year.

Read at Bloomberg


comments powered by Disqus
Bloomberg
   

ADD TO DEL.ICIO.US    ADD TO DIGG    ADD TO FURL    ADD TO STUMBLEUPON    ADD TO TECHNORATI FAVORITES