GSK returns to growth but has it put the fundamentals in place to sustain it?

3 May 2016

In our weekly expert view piece Ed Corbett, engagement manager at Novasecta, questions whether UK pharma giant GlaxoSmithKline has the right strategy in place to sustain future growth.

GlaxoSmithKline (LSE: GSK) is a pillar of the UK business establishment, delivering consistent returns for investors seeking a reliable place to deposit their money.

For many years Advair (fluticasone/salmeterol) sales, particularly in the US have driven its performance, but as patent protection is lost around the globe, generic entrants will eat into its revenue. Replacing this loss of sales is top of mind for senior management, with 2016 as the stated year in which the company will return to growth – Q1 earnings shows that this ambition is beginning to be realized.

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