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GlaxoSmithKline's CEO isn't depressed by UK drugmaker's profit slide.
Knight Ridder/Tribune Business News, October, 2004
By Ruth Sunderland, Daily Mail, London Knight Ridder/Tribune Business News
Oct. 29--Jean-Pierre Garnier, the chief executive of GlaxoSmithKline, refused to be depressed by an 8 percent slide in third-quarter profits -- or by the violent actions of animal rights protesters.
Instead, he concentrated on the good news. Garnier said the group has made significant progress in trials of Cervarix, a vaccine for cervical cancer.
He also welcomed a key victory against parallel trade, where traders buy prescription drugs cheaply in southern Europe, then sell them on in higherpriced countries.
Glaxo, down 3 pence at 1148 pence, saw third-quarter profits fall to 1.52 billion pounds. It lost 1.2 billion pounds of sales to cheap copies of...
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