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Glaxo Expects Profit to Rise as Drugmaker Prepares for Split

  • Adjusted earnings from drugs, vaccines to rise as much as 14%
  • Separation of consumer arm is on track for middle of this year
Bloomberg business news
Glaxo CEO Expects Profit to Rise, Prepares for Split
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GlaxoSmithKline Plc expects profit to rise this year as the U.K. drugmaker prepares to spin off its consumer-health business, its biggest shake-up in more than two decades.

The company forecast earnings for the pharma and vaccines businesses to rise 12% to 14% in 2022 on an adjusted basis. The shares slipped 1.1% at 11 a.m. Wednesday in London as some investors worry about how long it will take for the company’s drug pipeline to deliver.