GlaxoSmithKline highlights positive trends in 2013

GlaxoSmithKline has published its financial results for the 2013 business year, during which it was able to meet its internal projections.

The company's turnover for the 12 months came to 26.5 billion pounds, up by one percent year on year, while its core earnings per share reached 112.2p, representing an annual increase of four percent.

During the year, the firm was able to launch new products to strengthen its business in the fields of respiratory disease, vaccines, HIV and oncology, while securing approvals for six major products and completing five additional regulatory filings.

Progress was also made on the development of a number of promising new agents, with the overall focus of GlaxoSmithKline's business strategy being refined through the sale of non-core brands such as Lucozade and Ribena.

Sir Andrew Witty, chief executive officer of GlaxoSmithKline, said: "Our continued aim is to deliver innovation and access to our products for patients and customers, and improved sustainable financial performance for our shareholders."

The company also recently announced that it will be investing 200 million pounds to create new facilities in the UK that will enhance its manufacturing and research capabilities.