Glaxo Wellcome earmarks more for research

April 17, 1998

Pharmaceutical giant Glaxo Wellcome spent Pounds 1.15 billion on research and development in 1997, according to its annual report. The firm, which notched up global sales worth Pounds 8 billion, says it expects to spend Pounds 1.2 billion on R&D next year. It says that for the pharmaceutical industry worldwide, sales in 1997 were up 9 per cent to Pounds 166 billion.The North American market saw the greatest increase from 9 per cent growth in 1996 to 15 per cent in 1997, generating Pounds 61 billion of sales.

The United States accounts for 35 per cent of the global market. Europe has experienced a decline in growth from 9 per cent to 6 per cent. Growth in Latin America has increased from 7 per cent to 11 per cent, while in Asia Pacific growth has slowed from 13 per cent to 9 per cent.

Already registered?

Sign in now if you are already registered or a current subscriber. Or subscribe for unrestricted access to our digital editions and iPad and iPhone app.

Have your say

Log in or register to post comments

Featured Jobs

Lecturer in Islamic Studies QATAR UNIVERSITY
Lecturer in Social Studies QATAR UNIVERSITY

Register to continue  

You've enjoyed reading five THE articles this month. Register now to get five more, or subscribe for unrestricted access.

Most Commented

  • Boats docked in Port Hercule, Monaco

Richard Murphy praises a bold effort to halt tax-dodging by the 1 per cent

It’s a question with no easy answer, finds James Derounian

  • Man walking, University of Oxford campus, photo negative

Donald Brown shares the experiences that prompted him to talk about ‘institutional racism’ at Oxford

  • Egg timer and clock showing deadlines

Meghan Duffy thinks you can get on in academia without being chained to your desk

  • James Fryer illustration (19 November 2015)

With no time for proper peer review and with grade inflation inevitable, one academic felt compelled to resign