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Chris Hughes

No Quick Wins for GSK

Walmsley may struggle to maintain the drugmaker's premium valuation.

Incoming CEOs like quick wins. But Emma Walmsley may find them elusive when she takes over at GlaxoSmithKline Plc in March.

Glaxo’s lead drug, Advair, will face competition from generics in the U.S. at some point next year. The pace at which its sales might decline is uncertain. Given it accounts for a quarter of pharmaceutical revenue, the threat is clear.