GlaxoSmithKline, the UK’s biggest drugmaker, reported third-quarter earnings that surpassed analysts’ estimates as sales of HIV drugs, vaccines and consumer health-care products climbed.

Profit excluding certain costs dropped 5 per cent to £1.72 billion (€2.37 billion), the London-based company said in a statement.

That assumes there was no currency fluctuation, and compared with the £1.48 billion average of 10 analysts’ estimates compiled by Bloomberg.

Earnings per share declined to 23 pence, topping the 19.4 pence a share average of 11 analyst estimates.

- Bloomberg