GlaxoSmithKline forecasts better 2014 as drug R&D improves

By Ben Hirschler LONDON (Reuters) – GlaxoSmithKline has predicted a pick-up in sales growth to around 2 percent this year as productivity in its drug research labs improves and pressure on sales in China moderates following a damaging bribery scandal. Britain's biggest drugmaker also said on Wednesday that it would stay market leader in the respiratory medicine market – a category it has dominated since the launch of Ventolin in 1969 – despite generic threats to its top-selling Advair drug. Chief Executive Andrew Witty said the expected improvement in 2014 reflected the roll-out of new products, which would offset further potential competition from generics to older products such as the heart drug Lovaza. The Stoxx Europe 600 healthcare sector index was up 0.6 percent.