This article is from the source 'bbc' and was first published or seen on . It last changed over 40 days ago and won't be checked again for changes.
You can find the current article at its original source at http://www.bbc.co.uk/news/business-31131136
The article has changed 2 times. There is an RSS feed of changes available.
Previous version
1
Next version
Version 0 | Version 1 |
---|---|
GlaxoSmithKline sees fourth-quarter sales fall | GlaxoSmithKline sees fourth-quarter sales fall |
(about 3 hours later) | |
Pharmaceuticals giant GlaxoSmithKline (GSK) has reported a drop in fourth-quarter sales as demand for its asthma drug Advair remains weak. | Pharmaceuticals giant GlaxoSmithKline (GSK) has reported a drop in fourth-quarter sales as demand for its asthma drug Advair remains weak. |
Fourth-quarter sales were 8% lower than a year earlier at £6.19bn. GSK also reported pre-tax profits of £2.97bn for 2014, down from £6.6bn a year earlier. | Fourth-quarter sales were 8% lower than a year earlier at £6.19bn. GSK also reported pre-tax profits of £2.97bn for 2014, down from £6.6bn a year earlier. |
GSK said that it expected to regain market share in respiratory medicine. | GSK said that it expected to regain market share in respiratory medicine. |
The company added it expected adverse "headwinds" in the first half of 2015 but a better second half of the year. | The company added it expected adverse "headwinds" in the first half of 2015 but a better second half of the year. |
GSK hopes a deal with Novartis - which involves swapping assets and combining their consumer health units - will help to revive its fortunes. | GSK hopes a deal with Novartis - which involves swapping assets and combining their consumer health units - will help to revive its fortunes. |
Novartis is to acquire GSK's cancer drugs business and sell its vaccines division, excluding the flu unit, to GSK. | Novartis is to acquire GSK's cancer drugs business and sell its vaccines division, excluding the flu unit, to GSK. |
The deal is due to close in the first half of 2015. GSK said it expected £4bn of net proceeds from the dealt to be returned to shareholders this year. | The deal is due to close in the first half of 2015. GSK said it expected £4bn of net proceeds from the dealt to be returned to shareholders this year. |
GSK is also considering floating its HIV unit ViiV Healthcare. "We continue to evaluate options for a potential IPO of a minority stake in this business and expect to provide an update to shareholders at the Q2 2015 results," the company said. | GSK is also considering floating its HIV unit ViiV Healthcare. "We continue to evaluate options for a potential IPO of a minority stake in this business and expect to provide an update to shareholders at the Q2 2015 results," the company said. |
Following the release of its results, GSK shares rose 1.6% to 1476p. |
Previous version
1
Next version