GLAXOSMITHKLINE: Better-than-expected Q1 results helped by one-offs | NEUTRAL | 1660p
GLAXOSMITHKLINE - NEUTRAL | 1660p(+6%)Better-than-expected Q1 results helped by one-offs
Inventory moves boosted Q1 2019 numbers
Tougher times for mature respiratory products, as expected
The HIV Franchise under pressure too
Vaccines: Q1 boosted by inventories
GlaxoSmithKline is a global healthcare company. Co.'s segments include: Pharmaceuticals; Vaccines; and Consumer Healthcare. The Pharmaceuticals segment is focused on developing new medicines in respiratory, HIV, oncology and immuno-inflammation, with discovery research exploring these and other areas. The Vaccines segment has a portfolio and pipeline of vaccines to help protect people throughout life. Co. delivers vaccines to people living in over 160 countries. The Consumer Healthcare segment develops and markets consumer-preferred brands in oral health, pain relief, respiratory, nutrition/gastro-intestinal and skin health.
Since 1996, Bryan, Garnier & Co has been growing with an absolute conviction that the investment banking landscape would experience a major revolution: most of the large local generalist banking groups will disappear to the benefit of a handful of global powerhouses, and an emerging group of independent, highly specialised boutique investment banks.
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