Wednesday, 23rd July 2014

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FTSE 100 movers: GlaxoSmithKline shares tank as drugmaker lowers outlook

Wed 23rd Jul 14, 14:31

Benjamin Chiou

The share price ofGlaxoSmithKline tanked 6% on Wednesday afternoon, leading the fallers on the FTSE 100, as the drugmaker disappointed with a 4% drop in quarterly sales to 5.6bn and lowered its full-year outlook. It now expects to deliver 2014 full-year core earnings per share "broadly similar to last year", down from its previous estimate of 4-8% growth.

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