SmithKline worldwide OTC sales up 84% in first quarter due to Sterling contribution.
This article was originally published in The Tan Sheet
Executive SummarySMITHKLINE BEECHAM WORLDWIDE OTC SALES SURGE 84% to [pound]266 mil. in the first quarter -- or $422.9 mil. based on a [pound]1 = $1.59 exchange rate -- due primarily to a $173 mil. contribution from the newly acquired Sterling Winthrop business. Acquisition of Sterling's international OTC brands was completed Oct. 31. Excluding Sterling, SmithKline's worldwide OTC revenues increased 4.7% during the quarter
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