Witty Wishes Everyone Would Hold Off On GSK Break-Up Chatter
This article was originally published in Scrip
Executive Summary
There is an "extraordinarily low" likelihood of GlaxoSmithKline Plc. spinning off its consumer healthcare business within the next three years, said CEO Andrew Witty. Getting the margin structure right of the joint venture with Novartis was a "three year journey" and despite making "great progress" in 2015, there was still work to be done. "Time is everybody's friend here," said Witty, speaking during the presentation of GSK's annual results and fourth quarter financials on Feb. 3rd.