GlaxoSmithKline sees profits fall despite €1.66bn Covid related sales

The group is pressing ahead with a demerger of its consumer healthcare arm, which includes brands such as Sensodyne toothpaste and Panadol

Fourth-quarter pre-tax profits came in lower than expected at £706m (€838.4m), down 14%, or 8% higher on a constant currency basis.

Pharmaceuticals giant GlaxoSmithKline has said its pre-tax profits dropped last year, despite notching up £1.4bn (€1.66bn) in Covid-19 related sales.

The firm reported a 22% fall in pre-tax profits to £5.4bn (€6.41bn) for 2021 - a 10% decline with currency movements stripped out.