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From Times Wire Services
Glaxo Wellcome, London-based maker of Zantac, said first-half pretax profit rose a greater-than-expected 34%, fueled by soaring new-product sales and cost cutting.
The world’s largest drug maker said pretax profit to June 30 was $2.4 billion. A year earlier it was $1.8 billion. Pretax profit of $2.21 billion was the average forecast of analysts.
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