Monthly Newsletter

GSK reports sales growth +1%, earnings per share +16% and strong cash generation which has enabled the company to re-affirm its guidance for the full year.

Simon Dingemans, CFO, gives an update on the emerging markets business.

Key highlights

• Core EPS 28.9p (+16%) benefiting from operating, financial and long-term cost efficiencies

• Pharma & Vaccines sales flat: US +2%, Europe +5%, Japan +2% offset by EMAP -9%

• Consumer Healthcare +4%

• 4 approvals in 3 markets; Tivicay for HIV and FluLaval Q-IV vaccine for flu; Tafinlar for metastatic melanoma; Relvar Ellipta for asthma

• Q3 dividend of 19p (+6%)

• Full year 2013 guidance reaffirmed

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