Reader comments on sltrib.com are the opinions of the writer, not The Salt Lake Tribune. We will delete comments containing obscenities, personal attacks and inappropriate or offensive remarks. Flagrant or repeat violators will be banned. If you see an objectionable comment, please alert us by clicking the arrow on the upper right side of the comment and selecting "Flag comment as inappropriate". If you've recently registered with Disqus or aren't seeing your comments immediately, you may need to verify your email address. To do so, visit disqus.com/account.
See more about comments here.
British drug maker cuts earnings expectations
London • Drug maker GlaxoSmithKline has cut its full-year earnings expectations as it says its second-quarter profits were hit by currency moves and a fall in sales of its respiratory drugs.
The company said Wednesday it expects 2014 earnings per share to be broadly similar to last year. It had previously forecast growth of between 4 and 8 percent.
GSK said second-quarter revenue fell 16 percent to 5.6 billion pounds ($9.5 billion) from 6.6 billion pounds in the same quarter in the previous year. Profit attributable to shareholders dropped from 1.05 billion pounds a year earlier to 654 million pounds.
The firm, which remains troubled by a high-profile bribery investigation in China, said sales there were down 20 percent.