GSK profit falls short as cheap competition hits older drugs

(Reuters) - GlaxoSmithKline missed fourth-quarter earnings forecasts on Wednesday as cheap competition to the British drugmaker's respiratory medicines offset strong growth in sales of its shingles vaccine. GSK shares fell as much as 3% after the company also said adjusted earnings for this year could fall as much as 4%. Under Chief Executive Emma Walmsley, the London-listed firm has sold several assets, and bought others in fast-growing markets such as oncology, to try to rejuvenate growth as..