Strong results but cautious outlook again the story for prudent GSK

Just as it was a year ago, satisfaction with a strong set of financial results was tempered by concern over the upcoming impact of generic competition as UK pharma major GlaxoSmithKline (LSE: GSK) presented its fourth-quarter and full-year 2017 figures.

Emma Walmsley, presenting her first set of annual results as chief executive of the London-based drugmaker, was able to point to an 8% increase (annual equivalent rate) in turnover compared to 2016, with the full-year figure totaling £30.2 billion ($42 billion). That included a 7% rise in the Pharmaceuticals business, to £17.3 billion, and a 12% jump in the Vaccines division, to £5.2 billion.

"Improving our Pharmaceuticals business remains our main priority and we are strengthening our pipeline with a focus on priority assets in two current therapy areas, respiratory and HIV, and two potential areas, oncology and immuno-inflammation.”