British drugmaker GlaxoSmithKline announced today that it almost trebled profit after tax last year, thanks largely to an asset swap deal with Swiss peer Novartis.
Net profit soared to 8.4 billion pounds (USD 12.1 billion, 11.1 billion euros) in 2015, from 2.76 billion pounds in 2014, GSK said in a results statement.
Revenue climbed six per cent to 23.9 billion pounds last year.
The London-listed pharmaceuticals company said that its annual performance was boosted by an exceptional gain of almost 4.6 billion pounds, mostly reflecting the impact of the Novartis transaction.
GSK sold its oncology arm to Novartis in 2014 for USD 16 billion, buying the Swiss group's vaccines division in return, in a deal that completed in the first quarter of 2015.
The pair also formed a joint venture for consumer health products.
