Headings for piece about GSK Dec 2015

Summary
About this piece
The company and stock
Big changes
Sales and innovation breakdown, and Rx/Cx switching
Advair and generics
Other competition from generics
After Advair
GSK’s statements about core EPS and its growth
GSK’s words translated into figures
Low, mid, high and probability
The spreadsheet
Core EPS and the dividend
Core EPS and other per share quantities
Cash conversion and investment
Still some uncertainty about Q4
The sustainability of the dividend
GSK’s Beneish M-Score
Currency risk
HIV success
The SUMMIT study and other negative results
Recent failures and return on investment
Upside in the pipeline
Hepatitis C
Asthma in Africa
Negative articles
The R&D teams
The R&D budget and job cuts
Reasons to like the small team structure
Allegations about the drugs industry
An honest model
Woodford, break-up, Berkshire and insiders
The consumer business
The Novartis “put” option
Pensions
Credit ratings
Legal proceedings
R&D day
R&D in 2007
The vaccine alliance
Vaccines sales and supply
Barriers to entry in vaccines
Vaccines breakthrough
Meningitis B vaccine
Respiratory syncytial virus (RSV) vaccine
Vaccinating COPD patients
Benlysta
Amyloidosis
Openness
Public discussions about not keeping Established Products and ViiV
Partnering with Pfizer’s POD
The Trans-Pacific Partnership trade deal
Industry problems
Glassdoor reviews
BBC radio programmes
Summing up
Opinion
Some points for investors to consider
A scenario