GSK shares slide as sales stagnate
It would be fair to call 2020 a transitional year for GlaxoSmithKline (LSE: GSK), with the group due to split its BioPharma and Consumer Healthcare businesses in 2022 and the impact of coronavirus to deal with.
However, it would also be fair to say that it has not been a good year, with a disappointing stagnation in growth and a very poor stock market performance, and the outlook for 2021 does not look too rosy for shareholders.
The fourth quarter of the year was no exception. Sales dropped by 2% to £8.74 billion ($11.94 billion) compared to the same period of 2019, albeit marginally ahead of a consensus forecast of £8.72 billion provided by FactSet.
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