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Save the Children, drug company GSK announce new partnership to save children's lives

NAIROBI, Kenya - GlaxoSmithKline is giving Save the Children $23 million and entering into a five-year partnership with the charity to try to save the lives of 1 million children. The chief executives of the two groups visited a remote health clinic in Kenya on Thursday where they spoke to a mother who said she had three children die of diarrhea. Justin Forsyth, the head of Save the Children, said the mother told him and GSK chief executive Andrew Witty that she was devastated by the deaths, but was happy that her 5-year-old daughter was getting treatment for pneumonia.

UPDATE 2-Europe faces cost cuts as GSK promises return to growth

* Restructuring to save at least 1 bln pounds a year by 2016 * 2013 core EPS seen increasing 3-4 pct on sales up 1 pct * Strategic review launched on future of Lucozade and Ribena * Q4 sales 6.80 bln pounds vs consensus forecast 6.88 bln * Q4 core EPS 32.6 pence vs consensus forecast 31.3 pence By Ben Hirschler
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