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Glaxo beats estimates as sales of new products rise

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London - GlaxoSmithKline, the UK’s biggest drug maker, reported third-quarter profit that beat analysts’ estimates as sales of its new HIV treatments and respiratory treatments accelerated, helped by the decline of the pound.

Earnings per share excluding certain costs rose 39% to 32 pence from a year earlier, the London-based company said in a statement on Wednesday. That beat the 29.4-pence average of 12 analyst estimates compiled by Bloomberg.

Glaxo is studying new regimens to advance its HIV franchise, which has been buoyed by the success of the Tivicay medicine.

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