GlaxoSmithKline PLC Q3 2017 Earnings Call Transcript

The following is excerpted from the question-and-answer section of the transcript.

Question: Kerry Ann Holford - Exane BNP Paribas, Research Division - Analyst : Three questions please. Firstly, on the meningitis vaccines, I wonder if you could detail what the underlying growth of Menveo and Bexsero was in Q3? So excluding that positive impact of CDC movements. Secondly, on Trelegy, could you just detail a little bit more about how you plan to position that triple in COPD versus Breo and Anoro? And also on pricing, I see that the Trelegy list price is around 50% above that of Breo and Anoro, which I find relatively surprising, given it's such a highly competitive market. So is it fair to suggest the high rebate pressure we're now seeing on the existing Ellipta brand reflects the need to support that premium price triple? Or on a net basis, should we assume it will be priced at broad parity? And lastly just on Vaccines, coming back to Graham's earlier question. Just to clarify, Simon, you mentioned we should potentially anticipate margin decline with Advair generics. Were you referring to Pharma, the Pharma division only or group margins? I wonder if -- should we expect that the consumer vaccine margin expansion could offset any decline in Pharma over that period?