Pharmaceuticals company GlaxoSmithKline (GSK)
looks set to continue its earnings slide in 2015, as generic
competition hit sales of best-selling asthma treatment Advair in the
first quarter.
In its earnings report for the period, the pharma giant also ruled out a spinout of its HIV/Aids treatment division, ViiV Healthcare, given what it called a " strong positive outlook."
In its earnings report for the period, the pharma giant also ruled out a spinout of its HIV/Aids treatment division, ViiV Healthcare, given what it called a " strong positive outlook."
Ben Stansall | AFP | Getty Images
Investors may be pleased that GSK's tie-up with Swiss rival Novartis,
where both companies have sold each other divisions to strengthen their
specialisms, should start saving the company money sooner than planned.
Over half of the total synergies of £1 billion are now expected in 2016 - earlier than a previous date of 2017 - and the integration of the Novartis divisions is now expected to be "broadly complete" by the end of 2017, earlier than 2019, which was previously flagged.
Over half of the total synergies of £1 billion are now expected in 2016 - earlier than a previous date of 2017 - and the integration of the Novartis divisions is now expected to be "broadly complete" by the end of 2017, earlier than 2019, which was previously flagged.
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