LONDON, April 24, 2013 /PRNewswire/ --
GlaxoSmithKline reported a 2% decline in Group revenues in line with expectations and a dividend increase of 6% as part of its 2013 Q1 results. The pharmaceutical giant also officially announced the divestment of Lucozade and Ribena as well as the creation of a 'Global Established Products' group within its portfolio that would get a different strategic focus from the more innovative products.
In a video interview, Chief Financial Officer Simon Dingemans said he felt "very comfortable" about the trends the group was seeing from its performance with strong results from Japan and the US offsetting the tougher European environment.
He emphasized his confidence that the Group was on track to deliver the guidance of 3 to 4% earnings growth in constant currency terms, on sales growth of around 1%. He also highlighted the "significant, continued progress" GSK was making in the pipeline with six new products that had been "called out in front of regulators on both sides of the Atlantic".
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SOURCE GlaxoSmithKline