February 6, 2019 / 12:10 PM / 6 months ago

Britain's GSK sees 2019 earnings hit from rival asthma treatments

Feb 6 (Reuters) - Britain’s biggest drugmaker GlaxoSmithKline Plc on Wednesday said it expects full-year adjusted profit to be hurt by new competition for its blockbuster asthma drug Advair.

GSK reported adjusted earnings per share of 31.2 pence on sales of about 8.20 billion pounds ($10.62 billion) in the fourth quarter.

Analysts had expected earnings of 27.7 pence and sales of 7.95 billion pounds, according to a company-provided consensus here of 11 analysts.

The company said it expects adjusted earnings per share to decline 5 percent to 9 percent, reflecting recent approval of a generic competitor to Advair in the United States. ($1 = 0.7722 pounds) (Reporting by Ankur Banerjee and Pushkala Aripaka in Bengaluru; Editing by Bernard Orr)

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