Drugs giant Glaxo set to benefit from weaker pound as it announces rising sales and a £275m investment in the UK

GlaxoSmithKline, which earns nearly all of its money overseas, but whose costs are in pound, said it would benefit from a weaker pound and raised its full year earnings expectations. EdenTree’s Fund Manager Ketan Patel discusses with This is Money about how investors have been drawn to defensive large cap companies with strong overseas earnings, especially US dollar exposure.