Results announcement for the third quarter 2014

GSK announces Q3 core EPS of 27.9p +5% CER excluding divestments and dividend of 19 pence per share

View full Q3 2014 results (PDF)

• Group turnover £5.6 billion, -3% excluding divestments
• Targeted cost reductions and financial efficiencies help deliver Q3 core EPS of 27.9p +5% at CER and excluding divestments
• Continue to expect full year 2014 core EPS to be broadly similar to 2013 (at CER and on ex-divestment basis)
• Proposed 3-part transaction with Novartis on track for completion in H1 2015
• ViiV Healthcare: intention to explore an IPO of a minority shareholding to enhance future strategic flexibility and visibility within the Group
• New restructuring programme to refocus global pharmaceuticals business and cost base following divestment of oncology products and changed US respiratory market dynamics
• R&D pipeline expected to fuel growth of pharmaceuticals business with sustained flow of new products over next 5-10 years
• Q3 dividend maintained at 19p per share
• FY14 dividend expected to be 80p +3%.  2015 dividend expected to be maintained at same level as 2014 with additional planned return of £4 billion to shareholders via a B-share scheme post completion of transaction