Garnier: gsk "particularly healthy"

Chief executive Jean-Pierre Garnier said the performance reflected "particularly healthy" sales in the US.

Demand for its respiratory and Aids drugs, diabetes medicine Avandia and anti-depressant Paxil, pushed sales up 9% in the first three months of the year to �4.7bn.

Drug deals

The company said it expected to realise more savings from the merger and said it was looking at further acquisitions.

"As far as a merger is concerned, it would have to be very compelling and clearly accelerate our gameplan. We have every element we need to succeed, both in research and in terms of the commercial infrastructure," said Mr Garnier.

Referring to weekend press speculation that the drugmaker might link up with American Home Products Corp, he told a conference call that "not everything printed in the papers is correct".

He restated that the primary goal was to acquire products and bolster the new product development pipeline.

"The key strategy is to build up the late pipeline with in-licensing and product acquisitions, and occasionally small or medium-sized company acquisitions," he said.