European drugmaker Glaxosmithkline beat forecasts with a 27 per cent rise in first-quarter profit today and said it was on track to hit its full-year earnings target.
Profits rose to €3.115 billion in the first three months of the year on sales up 15 per cent at €8.34 billion, underpinned by demand for the company's popular asthma and diabetes medicines.
Earnings per share were 38.04 cent.
