GlaxoSmithKline profits soar despite US tax change

British drugs giant GlaxoSmithKline said Wednesday that net profits jumped 70 percent last year on bumper sales, despite a fourth-quarter loss that was partly sparked by US tax changes. The annual performance was lifted by sales growth across its three main businesses, which comprise pharmaceuticals, vaccines and consumer healthcare. Revenues rose eight percent to £30.2 billion over the course of 2017.

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