LONDON: British pharmaceutical giant GlaxoSmithKline said Wednesday that 2023 net profits slumped, after a vast gain from the spin-off of its consumer healthcare unit Haleon skewed results of the previous year.

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Profit after tax tumbled to £4.9 billion last year from £14.9 billion in 2022, GSK said in a results statement, adding however that operating profit excluding exceptional items rose.