Pharmaceutical giant GlaxoSmithKline has posted rising sales but warned its profitability will take a hit this year due to competition against its asthma drug Advair. Pharmaceutical giant GlaxoSmithKline has posted rising sales but warned its profitability will take a hit this year due to competition against its asthma drug Advair. GlaxoSmithKline warns earnings will take hit from rival asthma drugsThe company said adjusted earnings per share (EPS) will decline by between 5% and 9% in 2019, following the approval of a generic competitor to Advair in the US. It comes as the group reported a 2% increase in turnover to £30.8 billion for last year. Chief executive Emma Walmsley said: “GSK delivered improved operating performance in 2018 with Group sales growth, strong commercial execution of new product launches, especially Shingrix, continued cost discipline and better cash generation.

Source: Irish Independent February 06, 2019 13:30 UTC