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GlaxoSmithKline (GSK) Plans More Restructuring as Profit Sinks



2/6/2013 8:05:50 AM

British drugmaker GlaxoSmithKline on Wednesday announced a 13-percent drop in annual profits and said it would further restructure its European operations to deliver greater savings amid weaker sales across the region. GSK said profit after tax fell to £4.565 billion ($7.153 billion, 5.285 billion euros) in 2012 from £5.261 billion a year earlier.

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