This report provides a detailed financial analysis of GlaxoSmithKline plc, examining its performance in the context of recent developments such as the Pfizer joint venture and the impact of COVID-19. The report delves into the company's dividend policy, capital structure, and the application of the pecking order theory. It includes a ratio analysis, focusing on debt-equity and operating profit ratios to assess the company's financial health and efficiency. The analysis covers the period around 2019-2020, comparing key financial metrics and highlighting the effects of the pandemic on the pharmaceutical industry and GlaxoSmithKline's operations, including revenue, profit, and sales figures. The report also offers insights into the company's strategic decisions, financial leverage, and the implications of these factors on its overall growth and stability.
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