Shares in focus: A health check for Glaxo

The pharma giant faces major challenges, so steer clear of the shares, says Phil Oakley.

GlaxoSmithKline (GSK) is one of the most valuable companies on the London stock exchange and it’s not difficult to see why. There are lots of things to like about this pharmaceutical giant. A glance at its accounts shows that GSK is a highly profitable business that generates plenty of spare cash to pay juicy dividends.

But how much should you pay for a business like GSK? Only a few weeks ago, US drug company Pfizer was prepared to spend a lot of money to buy [...]

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