GSK shelled out another strong quarter. The CER growth of 4% was galvanised by a 7% FX tailwind, translating into sales of £6.5bn, coming in ahead of our expectation. NB all sales growth numbers are at CER unless specified otherwise. The Pharmaceutical business grew by 2%, vaccines by 11% and the Consumer Healthcare division by 7%. The new products – HIV (Tivicay, Triumeq), Respiratory (Relvar/Breo, Anoro, Incruse, Nucala) and meningitis vaccines (Menveo, Bexsero) – generate
