Pre-tax profit falls in first quarter for British pharma GSK
Pre-tax profit fell in first quarter compared to the same period of the previous year for British pharmaceutical firm GSK. GSK reported on Wednesday that first quarter profit before tax was £1.35 billion ($1.35 billion), a decline of 29% at annual equivalent rate (AER), or a decline of 18% at constant exchange rates (CER). Earnings per share were 25.7 pence, down 30% at AER, or a decline of 19% at CER. Core operating profit was £2.44 billion, up 17% at AER, or an increase of 27% at CER. Core EPS was 43.1 pence, an increase of 16% at AER, or an increase of 28% at CER. First quarter turnover was...