GSK fourth-quarter profit misses estimates, initiates plan to split into two
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(Reuters) - GlaxoSmithKline Plc's quarterly profit fell short of analysts' expectations on Wednesday, and the drugmaker said it has begun its planned split into two companies following the merger of its over-the-counter products into a venture with Pfizer.Sales rose 11% to 8.90 billion pounds in the three months ended Dec. 31 at constant currency, while adjusted earnings were 24.8 pence per share. Analysts on average had expected fourth-quarter earnings of 25.8 pence on turnover of 9 billion..