Latvia, Markets and Companies, Medicine, Technology

The GSK management reported that the volume of the company’s core operations remained unchanged which is why the 2016 turnover virtually did not change from 2015. The profit reduction, meanwhile, occurred as revenue from other operations unrelated to the sale of pharmaceutical products, such as medical educational and marketing activities, fell 20%. Changes in the structure of the company’s expenditure also effect the profit result.

This year, GSK continues to focus on providing innovative medication to patients. The management project both turnover and profit to grow thanks to the new products, the management said.

GSK closed 2015 with a EUR 606,763 profit on EUR 16.542 million in turnover.

GlaxoSmithKline Latvia, established in 2003, belongs to the UK-registered company Wellcome Limited.