UK-based pharmaceutical company GlaxoSmithKline (GSK) released its third-quarter earnings report, which was higher than expected thanks in large part to the company’s newest shingles vaccine called “Shingrix.” According to Reuters, the company took in 8.09 billion pounds in sales and boosted its earnings per shares by more than two pence.
“The performance of our new launches is encouraging and this is where we continue to focus our resources,” said GSK CEO Emma Walmsley, according to Reuters. “Shingrix continues to have a remarkable start and we have now administered nearly 7 million doses worldwide since launch.”
Less encouraging news surrounding the company’s popular asthma medication, Advair, may be on the horizon. According to BioPharma Dive, Mylan, a US-based pharmaceutical company that specializes in generic medicines, is aiming to secure approval from the Food and Drug Administration (FDA) to manufacture a generic version of Advair. If approved, Mylan could begin cutting into GSK’s profits and could bring in $250 million in profit. However, the company has acknowledged that approval has not yet been granted.
“Mylan confirms it has not received any new information request or complete response letter from the FDA and continues to believe that FDA approval is imminent,” Mylan executives said in a statement, according to BioPharma Dive.