GlaxoSmithKline oral care sales
This article was originally published in The Rose Sheet
Executive Summary
Revenues for oral care products rose 71% to $1.59 bil. in 2001 including the Block Drug business, acquired in January 2001. Excluding Block brands, sales for oral care products, led by Aquafresh, were up 3% to $956 mil. "The profits made by Block Drug before we acquired it were doubled" during the year, GSK CEO Jean-Peirre Garnier reported at a year-end analyst presentation Feb. 14. "We were able to do some clever cost-cutting, to expand their franchises, their great brands like Sensodyne, in countries where they were not particularly strong, and we think that is going also to help drive the sales line and the profit line" for the company's consumer business...
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