The beginning of the end - emphasis on guidance weakens as uncertainty prevails
This article was originally published in Scrip
Executive Summary
Most of big pharma's and large biotechs' fourthquarter and full-year results are now in, and to describe 2008 as challenging is an understatement. So much so that GlaxoSmithKline announced at the beginning of the month that it would no longer provide specific short-term numerical earnings guidance.