New Delhi, Feb 07, 2015 –
GSK reported turnover of £ 6.2 billion in the last quarter of 2014, down a massive 8% from a year earlier and core earnings per share were down 6% at 27.2p. However despite the seemingly downbeat figures, they did actually beat analysts’ expectations which helped GSK´s share price climb over 3%.
GSK will be glad to see the back of 2014 and the Chief executive Andrew Witty will now be under considerable pressure after failing to return the drug maker to growth. Market conditions are increasingly tough especially in the US where competition is fierce and GSK suffered a damaging contract change in its asthma medicine Advair. However an asset swap with Novartis should provide a more stable outlook going forward and more predictable growth once the deal is closed in the first half of 2015.
CCI Newswire
