Britain's GSK sees 2019 earnings hit from rival asthma treatments

FILE PHOTO: The GlaxoSmithKline (GSK) logo is seen on top of GSK Asia House in Singapore, March 21, 2018. Picture taken March 21, 2018. REUTERS/Loriene Perera - Copyright Loriene Perera(Reuters)

By Reuters

Published on 06/02/2019 - 13:34•Updated 24/04/2024 - 17:04

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(Reuters) - Britain's biggest drugmaker GlaxoSmithKline Plc on Wednesday said it expects full-year adjusted profit to be hurt by new competition for its blockbuster asthma drug Advair.

GSK reported adjusted earnings per share of 31.2 pence on sales of about 8.20 billion pounds in the fourth quarter.

Analysts had expected earnings of 27.7 pence and sales of 7.95 billion pounds, according to a company-provided consensus of 11 analysts.

The company said it expects adjusted earnings per share to decline 5 percent to 9 percent, reflecting recent approval of a generic competitor to Advair in the United States.

(Reporting by Ankur Banerjee and Pushkala Aripaka in Bengaluru; Editing by Bernard Orr)

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