Healthcare company GSK's revenue falls 3 pct in 2014

British pharmaceutical giant GlaxoSmithKline (GSK) announced on Wednesday that the group's revenues in 2014 was 23 billion pounds (35 billion U.S. dollars).

The figure was 3 percent lower than that of a year earlier. Its overall turnover was affected by its sales slump in the U.S. market.

In 2014, the company's core operating profit decreased by 6 percent to reach 6.6 billion pounds. Its core earnings per share decreased by 1 percent to reach 0.954 pounds per share, data showed.

In the emerging markets, GSK's pharmaceutical and vaccine sales saw an increase of 5 percent. In Japan, the company's pharmaceutical and vaccine sales increased by 1 percent. However, its sales in the U.S. market were down by 10 percent, reflecting "challenging trading conditions" in primary care market, according to the GSK.

In the fourth quarter of last year, GSK's revenue was 6.2 billion pounds, 5 percent lower than that of the same period a year earlier. Its core operating profit and core earnings per share declined by 9 percent and 1 percent, respectively, over the same period, figures showed.

Andrew Witty, Chief Executive Officer at GSK, pledged the company started 2015 by focusing on priorities that are critical to GSK's performance this year.

"These priorities include completion of the proposed major three-part transaction with Novartis, improved commercialization of new products and progression of our mid-stage R&D pipeline, capitalizing on product supply resumption in our Consumer business and execution of our pharmaceutical restructuring program," Witty said in a statement.

GSK and Switzerland-based Novartis announced assets swap and joint venture plan last year. Novartis is to acquire GSK's cancer drugs business and sell its vaccines division to GSK.

The British pharmaceutical company also said it will consider floating its HIV unit ViiV healthcare. (1 pound = 1.52 U.S. dollars) Endit