GSK climbs as structural overhaul revealed
This article was originally published in Scrip
Executive Summary
GlaxoSmithKline has announced new plans to get itself back on track after disappointing drug sales and a mounting number of corruption accusations across the globe. Cost reduction strategies in response to the ongoing poor performance of its respiratory portfolio helped deliver third quarter EPS of 27.9p, up 5%. GSK intends to build on this by exploring an IPO of part of ViiV Healthcare, its majority-owned joint venture HIV business, and a further £1bn savings program.