LONDON, July 23, 2014 /PRNewswire/ --
Global healthcare company GSK reports Q2 results reflecting a business that is facing currency headwinds, increased price competition and supply disruptions to its Consumer business. However its CEO Sir Andrew Witty points out that the company is very much in transition, citing progress in the development pipeline as reason to be confident about long-term prospects as well as the investments being made to drive long-term growth.
CFO Simon Dingemans adds that the company is reining back on share buybacks for the year, revising its guidance, and formally launching a process to sell £1bn worth of sales from its established products portfolio as the company seeks to create a better balanced business.
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SOURCE GlaxoSmithKline