GSK posts 2Q results, sees increased sales
LONDON GlaxoSmithKline’s second quarter was weak on reports that the company’s net income fell by 3 percent from $2.65 billion last year to $2.57 billion, according to The Wall Street Journal. The loss was due to competition from low-cost generic drugs and sluggish sales of its diabetes pill Avandia and asthma inhaler Advair. Sales though rose 4 percent to $11.68 billion from $11.28 billion.
In an attempt to try to boost sales in emerging markets, the company signed an alliance with South Africa’s Aspen Pharmacare Holdings that will allow it to sell Aspen’s low-cost medicines in countries where Aspen doesn’t currently operate.
Aspen manufactures more than 450 inexpensive, unpatented drugs and sells them in Africa and a few other markets. GSK will start selling some of these products in new markets and will share profit with Aspen, the company said. It will make “limited” upfront payments to Aspen, though it didn’t disclose terms of the deal. Aspen produces a variety of HIV medicines, antidepressants and antibiotics, among other drugs.
GSK is also dropping its research into disorders of the gastrointestinal, urinary and reproductive systems because it doesn’t feel it can make much progress in these areas.
Expert panel recommends lifestyle changes for pre-diabetics
NEW YORK A panel of experts from the American Association of Clinical Endocrinologists has recommended two approaches for treating patients with pre-diabetes.
In a statement released Wednesday morning, the panel recommended significant management of lifestyle to prevent the onset of diabetes. It also recommended preventing cardiovascular complications from developing.
Pre-diabetes is a condition in which patients have high levels of glucose or low tolerance to sugar, but don’t have high enough levels to be diabetic. The condition puts patients at high risk of developing Type 2 diabetes. Pre-diabetes affects 56 million Americans, according to the Centers for Disease Control and Prevention.
SF pharmacy tobacco ban up for vote
SAN FRANCISCO A San Francisco Board of Supervisors committee sent a proposed amendment to the city’s health code that would ban tobacco sales at pharmacies to the full board Thursday for a vote.
After the City Operations and Neighborhood Services Committee heard testimony from city government officials, industry representatives, anti-tobacco activists and pharmacy workers, Supervisor Carmen Chu, who chairs the committee, allowed it to go forward.
Proponents of the amendment say that pharmacies send a mixed message by selling cigarettes and medicines. Opponents call the proposed ban unfair because it exempts supermarkets and big-box stores that operate pharmacies.
The Board of Supervisors, the legislative body for the consolidated city and county of San Francisco, will vote on the amendment Tuesday.