GlaxoSmithKline

(GSK) - Get Report

posted fourth-quarter earnings today that rose sharply from a year ago, marking the first time the company has reported combined results since the merger of

Glaxo Wellcome

and

SmithKline Beecham

closed on Dec. 27.

For the fourth quarter ended Dec. 31, GlaxoSmithKline earned $2.7 billion, or 88 cents per American depositary share, up from $1.3 billion, or 41 cents per ADR, in the year-ago period.

The company posted fourth-quarter revenue of $7.38 billion, down from $7.55 billion in the same quarter one year ago.

According to reports, the pharmaceutical company also plans to expand its program of offering lower-priced HIV and AIDS drugs in developing countries. GlaxoSmithKline plans to offer the drugs directly to nonprofit organizations, and continue selling them through governments, at a discount of more than 90%.

In October, Glaxo Wellcome reached an

agreement with Senegal to sell the country its anti-AIDS drugs at a discounted rate. The pact was one of the first in an initiative by five major pharmaceutical companies to offer drugs to poor, AIDS-embattled African countries at reduced prices.

GlaxoSmithKline gained $2.24, or 4.2%, to $55.50 in recent

New York Stock Exchange

trading.