GlaxoSmithKline's CEO Discusses Q1 2012 Results - Earnings Call Transcript

GlaxoSmithKline (GSK)

Q1 2012 Earnings Call

April 25, 2012 8:30 am ET

Executives

Andrew Witty - Chief Executive Officer, Executive Director, Member of Corporate Administration & Transactions Committee and Member of Finance Committee

Simon Dingemans - Chief Financial Officer, Executive Director, Member of Corporate Administration & Transactions Committee and Member of Finance Committee

Analysts

Tim Anderson - Sanford C. Bernstein & Co., LLC., Research Division

Andrew S. Baum - Citigroup Inc, Research Division

Seamus Fernandez - Leerink Swann LLC, Research Division

Brian Bourdot - Barclays Capital, Research Division

Graham Parry - BofA Merrill Lynch, Research Division

Jo Walton - Crédit Suisse AG, Research Division

Kyle Rasbach

Florent Cespedes - Exane BNP Paribas, Research Division

Mark Clark

Naresh Chouhan - Liberum Capital Limited, Research Division

James D. Gordon - JP Morgan Chase & Co, Research Division

Jeffrey Holford - Jefferies & Company, Inc., Research Division

Nick Turner - Mirabaud Securities Limited, Research Division

Presentation

Andrew Witty

Thank you very much, and thank you for joining me on this call. I'm here with Simon Dingemans. And what I'll do is make a few introductory comments and ask Simon to make a few comments, and then we'll open up to Q&A, as we normally do.

I'm very pleased with the first quarter performance, which provides more evidence of the sustainable business that we're building here at GSK. And importantly, we are delivering exactly what we said we would. We reported sales growth, gradual operating leverage, good cash generation, enhanced returns to shareholders and continued positive R&D asset progression. You will see we are now reporting core earnings for the first time and this gives a better indication of the operating performance of the business. It also brings us into line with our peers.

If you liked this article you might like

These Stocks Pay You to Own Them

Nascar Champ Danica Patrick--'I'm Not That Into Cars'

Nascar Driver Danica Patrick Says 'I'm Not a Car Person'

Hikma Sinks on Advair Generic Concerns

Shire Gains as it Seeks European Approval For Dry Eye Treatment