PHARMACEUTICAL company GlaxoSmithKline (GSK) says net profit was 18 per cent lower in the third quarter as sales fell in Europe and the United States.
For the three months ending September 30, GSK said on Wednesday that net profit was STG1.12 billion ($A1.75 billion), down from STG1.38 billion last year.
Revenue fell eight per cent to STG6.5 billion.
Sales declined by nine per cent in Europe, where the company faced pricing pressure from government austerity drives. US sales fell six per cent following the end of a co-promotion agreement for incontinence drug Vesicare and declining sales of Avandia for diabetes.
Sales in emerging markets rose 11 per cent and overtook Europe as the company's biggest market in terms of revenue.
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