The company now expects revenue for the full year to be in line with 2013 at constant currency, up from its previous guidance for a low-to-mid single digit percentage decline. Core earnings per share is expected to decrease in low double digits at constant currency, improved from previous guidance of a percentage decrease in the teens.
The company has adopted a progressive dividend policy, it said. However, it said it will not make any share repurchases in 2014 so that it has flexibility to invest in its business.
The pharmaceutical giant posted a pretax profit of
This increase of costs was due to the inclusion of 100% of the costs associated with
Revenue rose 3% at constant currency, and 2% at actual currencies. Whilst the loss of exclusivity on some drugs continued to hit the company, this hit was reduced and was more than offset by
The company said its pipeline had continued to grow during the half year, and now includes 114 projects, 100 of which are in the clinical phase of development. In the second quarter 19 projects progressed to their next phase; four projects were withdrawn.
The deal could be worth up to
On Thursday the company reiterated that the deal offers "multiple benefits and long-term value" to its respiratory franchise, which it said is a key growth platform and an area of strategic priority. The acquisition is expected to add to earnings from 2016, it said.
"The quality of transformation we are seeing across all core areas of our business further underpins our confidence in
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