Glaxo first-quarter hit by generics in US market.
Antidepressants Wellbutrin XL and Paxil CR, the Imitrex migraine pill, epilepsy drug Lamictal and Requip for restless legs all faced generic rivals in the U.S. The drugs had 586 million pounds in U.S. sales last year. "These were pretty big products so this was a difficult transition for them," said WestLB analyst Simon Mather. Mather, who has an "add" rating on the shares, said he is reviewing his price target of 1,400 pence.
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|Title Annotation:||CORPORATE; GlaxoSmithKline PLC|
|Article Type:||Brief article|
|Date:||Apr 27, 2009|
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