GSK promises growth this year after 2012 shortfall
LONDON (Reuters) – GlaxoSmithKline, Britain’s biggest drugmaker, renewed its promise to return to growth this year, after failing to deliver a hoped-for sales and margin recovery in 2012. GSK also announced a restructuring of European operations, drug manufacturing and research, designed to save at least 1 billion pounds ($1. 57 billion) annually by 2016, while it placed its Lucozade and Ribena drinks brands under strategic review. After putting a number of major drug patent losses behind it, GSK had originally banked on pulling out of its trough in 2012. . . .
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