GSK sales fall 8 pct, hit by weak Europe and vaccines

LONDON Wed Oct 31, 2012 8:07am EDT

LONDON Oct 31 (Reuters) - GlaxoSmithKline sales fell 8 percent in the third quarter, hurt by continued pressure on drug prices in austerity-hit Europe and lower demand for vaccines compared to a year ago.

Sales of 6.53 billion pounds ($10.50 billion) generated "core" earnings per share (EPS) down 13 percent at 26.5 pence, as Britain's biggest drugmaker suffered another tough quarter.

Analysts, on average, had forecast sales of 6.67 billion pounds and core EPS, which excludes certain items, of 27.8p, according to Thomson Reuters I/B/E/S.

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