GSK gets it 
Posted by Carlos on Jul 26, 2011

As FiercePharma correctly points out, GSK’s Q II report reflects the overall industry trends quite accurately:

The rest of Glaxo’s report, like the rest of Big Pharma’s Q2 results so far, reflect current industry trends; sales in U.S. and Europe are on the wane, thanks in part to pricing pressures from cash-strapped governments. Cost-cutting helped deliver bottom-line improvements, and that drive will continue. The company has already identified another £300 million worth of cuts to annual spending, bringing the restructuring savings to £2.5 billion a year. Plus, GSK is eyeing more cost reductions, some of which mimic Novartis’ efficiency efforts, namely supply-chain and procurement efficiencies, and cash-conversion improvements.

The full GSK report (PDF) is here (link). Reports from Reuters, WSJ, and Fierce are also out there.

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