GSK Turnover And Operating Profit Down In Q210

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GlaxoSmithKline (GSK)'s Q210 results reinforce BMI's view that emerging markets will drive industry growth. The company delivered a strong performance in H110, posting a 7.0% increase in net sales to US$22.02bn. However, on comparing GSK's financial performance between Q2 and Q1, it is evident that the company has suffered at the hands of cost-containment measures implemented by governments in developed states - particularly by governments across Europe - over the past six months.