Glaxo to Outline Separation Strategy Amid Elliott Pressure
- U.K. drugmaker will detail timing and approach in June
- CEO points to huge change in ‘supertanker’ of a company
Photographer: Matthew Lloyd/Bloomberg
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GlaxoSmithKline Plc, the U.K. drugmaker, will provide an update in June on the timing and approach to separating its consumer-health business as pressure increases to accelerate the company’s revival.
Chief Executive Officer Emma Walmsley pledged to give “a clear view of the strategy and growth outlook” with 10-year sales forecasts and details on which therapy areas Glaxo aims to mine after the consumer unit split.