Swine Flu Gives Pharmaceutical Companies a New EDGE
Britain’s biggest and world’s second biggest drug maker GlaxoSmithKline (GSK) is expected to gain £1.5bn from the sales of swine flu vaccine in the last quarter of 2009.
Reports clearly revealed that the company has employed around 1,000 people at its plant in Durham soon after a major drive was started across Europe and almost 150,000 people have already received the vaccine.
The company has since taken a lead role in developing a vaccine for the disease and has already received orders for 440 million doses from the Government.
Although the sales of swine flu- related products have begin, however GSK has not released any figures on the profit margin on its vaccine. But if the predictions of the city analysts are to be believed, the GSK will register £1bn in sales for Pandermix in the fourth quarter and £180m from Relenza in the third and fourth quarters.
However, the rival drug firm AstraZeneca is also expected to update the market on the cost-cutting measures on Thursday.
Earlier this year GSK announced plans to cut 200 jobs from its North East work force; however, these plans were later called off after the swine flu break-out in the summer.
Being the biggest pharmaceuticals company, GSK Pandemrix has an edge over rival products because of the effectiveness of the vaccine.
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