Home Business NewsGlaxoSmithKline warns profitability will take a hit

GlaxoSmithKline warns profitability will take a hit

by Sarah Dunsby
6th Feb 19 2:03 pm

Pharmaceutical giant GlaxoSmithKline (GSK) warned they will take a hit on profits for 2019 due to competition over Advair, an asthma drug, despite rising sales.

Adjusted earning per share (EPS) will decline between 5% and 9% after the approval of a generic competitor of Advair in the US.

Emma Walmsley, chief executive of GSK said, โ€œGSK delivered improved operating performance in 2018 with Group sales growth, strong commercial execution of new product launches, especiallyย Shingrix, continued cost discipline and better cash generation.

โ€œIt was also a significant year for the Group strategically, with the launch of a new R&D strategy focused on immunology, genetics and new technologies, together with a series of transactions that support our strategy and reshape of the Groupโ€™s portfolio.โ€

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