GSK 4Q10 4Q Revenues: $11.4 billion (-13%) 4Q Loss: $955 million(earnings of $2.6 billion in 4Q09) FY Revenues: $44.0 billion (-1%) FY Earnings: $2.9 billion (-67%) Comments: U.S. pharma sales for the year dropped 11% to $11.9 billion, while European sales dropped 7% to $10.1 billion. Emerging markets rose 22% to $5.5 billion in that span. The vaccine segment overall grew 15% to $6.7 billion. Generic exposure for Valtrex and Avandia’s continuing death-spiral impacted revenue...