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Video: Drugsmaker GlaxoSmithKline Reports 13% Net Profits Drop, But Group Revenue Rose 1.0 Percent To £6.64 Billion In First Quarter.

Drugsmaker GlaxoSmithKline Reports 13% Net Profits Drop, But Group Revenue Rose 1.0 Percent To £6.64 Billion In First Quarter.

British drugsmaker GlaxoSmithKline said Wednesday that its net profits dropped 13 percent to £1.325 billion (1.616 billion euros, $2.134 billion) in the first quarter from a year earlier. The result was skewed by the fact GSK had its earnings after tax boosted in the first quarter of 2011 by the sale of its stake in medical testing business Quest Diagnostics. In this video interview, CFO Simon Dingemans looks at the pharma group's overall Q1 performance plus the impact of the company's new financial architecture, the balance between dividend and share buyback, the drug development pipeline and the outlook for the rest of the year.

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