Reporting performance - Financial
SALES $M
2007 |
29,559 |
2006
| 26,475 |
2005
| 23,950 |
2004
| 21,426 |
2003 |
18,849 |
|
GROSS MARGIN $M |
|
|---|---|
| % OF SALES | |
 |
80.0% |
 |
78.3% |
 |
79.0% |
 |
77.6% |
OPERATING PROFIT MARGIN $M |
|
|---|---|
| % OF SALES | |
 |
32.0% |
 |
27.4% |
 |
31.0% |
 |
27.2% |
R&D INVESTMENT $M |
|
|---|---|
| % OF SALES | |
 |
16.8% |
 |
17.5% |
 |
14.7% |
 |
14.1% |
SG&A COSTS $M |
|
|---|---|
| % OF SALES | |
 |
32.3% |
 |
35.0% |
 |
34.4% |
 |
36.3% |
1Excluding MedImmune and restructuring and synergy costs.
The performance data shown in the Therapy area review section and the geographic sales performance in the Geographical Review section are shown in both reported and underlying performance. Reported performance takes into account all the factors (including those which we cannot influence, principally currency exchange rates) that have affected the results of our business. Underlying performance shows sales growth at constant exchange rates (CER) to reflect the volume and price changes of the geographic and therapy areas and individual products by excluding the effects of exchange rate movements. Underlying CER growth is calculated by retranslating the current year performance at the previous year’s exchange rates and adjusting for other exchange effects, including hedging.
