After watching GSK run from 45 to nearly 52, after yesterdays earnings i took the profits and left. For nearly 2 years we have heard grand talk about return to profits and still no progress. Q1 turnovers declined from 6.6 bil pounds to 6.4 billion. US and Europe sales continue to decline. Net debt increased from 8.8 bil to over 15 bil. I dont mind companies spending money to fund growth but to fund buybacks its just creative accounting. This stocks risk demand a far higher yeild premium.
If you have been watching the other pharma stocks reporting they have been very poor. I know that GSK is outside the US and doesnt have the strong dollar to fight against, but its still facing many of the other same headwinds.