Europe faces cost cuts as GSK promises return to growth
LONDON (Reuters) - GlaxoSmithKline plans to cut costs in its struggling European drugs division and promised investors a return to growth this year, after failing to deliver a hoped-for sales and margin recovery in 2012. Britain's biggest drugmaker said a new program to restructure European operations, drug manufacturing and research would save at least 1 billion pounds ($1.6 billion) annually by 2016, with related charges of 1.5 billion pounds. ...
Source: news.yahoo.com
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