GlaxoSmithKline, the Triangle's largest drug maker, reported stronger first-quarter profit, even as sales continued to slow.
The British pharmaceutical company saw a steep drop in sales of pandemic flu vaccines and its controversial diabetes drug Avandia. Sales declines in the United States and Europe were offset by gains in emerging markets and Asia.
The results met or exceeded most analysts' expectations. Most analysts expect GSK sales to rise in the second half of the year.
"GSK is making good progress against our strategic priorities and we had a very positive start to the year," CEO Andrew Witty said on a conference call. "We are continuing to see good underlying sales growth momentum."