Clinical research jobs provider GlaxoSmithKline (GSK) has reported a three per cent increase in operating profits during 2011's September quarter as part of its latest trading update.
The pharmaceutical company unveiled profits of £2.18 billion before restructuring and revenues increased by three per cent to £7.1 billion.
Underlying sales growth of six per cent, as well as reported sales growth of three per cent has spelled a successful period for the organisation.
GSK chief executive Andrew Witty said the company's varied portfolio helped it to "mitigate economic volatility" in 2011 during a time that many drug and consumer product firms have struggled due to ailing finances.
"The impact of healthcare reform in the US and price cuts in Europe this year is in line with our expectations and we continue to expect a full-year impact of around £325 million," he added.
This comes after Mr Witty told a news conference he believes GSK's respiratory drug Advair will not be forced to compete with generic rivals in Europe in the coming years.