Advair slide, China woes drop-kick Glaxo profits in Q1

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Things are changing at GlaxoSmithKline, but not fast enough to avoid the 18% plunge in first-quarter profits the company reported Monday. But with big moves underway–including the introduction of new respiratory products, a giant asset swap and consumer venture with Novartis and a marketing clean-up in China–CEO Andrew Witty doesn't expect the skid to last long.