Picture: Danish Siddiqui

London - GlaxoSmithKline is set to unveil plans to launch late-stage clinical trials on 10 new drugs over the next two years, the Telegraph reported, without citing sources.

The new drugs, which have not been detailed to investors, will include cancer and respiratory disease medicines, the newspaper said on its website.

Britain's biggest drugmaker is also expected to report that fourth-quarter sales in China, where it is embroiled in a major bribery probe, took a smaller hit than when the scandal first blew up during the summer quarter, the report said.

The investigation began in July 2013, after Chinese police accused GSK of funnelling up to three billion yuan ($495.05 million) to travel agencies to facilitate bribes to boost its drug sales. - Reuters