GSK taps insider to run spin-off consumer health business July 22, 2021 The current boss of Glaxosmithkline’s consumer healthcare division will take over the top job when the unit is spun off into its own business next year. The demerger, which will see majority ownership of the new firm transferred to its shareholders, is the biggest shake-up of the pharma giant’s business in decades. GSK chairman Jonathan [...]
GSK sets out plans for new £400m life sciences campus July 16, 2021 Drug giant Glaxosmithkline (GSK) has this morning unveiled plans for a new £400m life sciences campus in Stevenage. The FTSE 100 firm said that the new facility could create 5,000 high-skilled jobs over the next decade. It is looking to sell 33 acres of its existing 92 acre site in Stevenage to a private developer [...]
GSK board rejects call for board shake-up by activist investor Elliott July 2, 2021 The board of Glaxosmithkline has rejected calls for a shake-up of its board after activist investor Elliott Management launched a shock attack on the company’s management. Elliott yesterday urged GSK to name new board directors and launch a review of Emma Walmsley’s leadership of the company in its first public push for change since its [...]
Activist investor Elliott piles pressure on Walmsley with call for change at GSK July 1, 2021 The US activist hedge fund launched a scathing attack on GlaxoSmithKline’s management and called for a shake-up of the UK drugmaker’s board. Elliott Management urged GSK to name new board directors and launch a review of Emma Walmsley’s leadership of the company, in its first public push for change since its investment in April. In [...]
GSK boss looks to head off activist pressure but cuts dividend in new 10-year strategy June 23, 2021 GSK boss looks to head off activist pressure but cuts dividend in new 10-year strategy
Glaxosmithkline signs $2bn cancer treatment deal with US biotech firm June 15, 2021 Glaxosmithkline has agreed to pay a US biotech firm as much as $2.1bn (£1.5bn) to team up on an experimental new cancer treatment. The British pharma giant will pay iTeos Therapeutics $625m upfront to co-develop and co-commercialise an immuno-oncology drug known as EOS-448. iTeos will be entitled to receive up to a further $1.5bn if [...]
GSK granted US FDA approval for Covid-19 antibody drug May 27, 2021 GSK granted US FDA approval for Covid-19 antibody drug
Top shareholders offer support to GSK following activist hedge fund investment May 17, 2021 Several of GlaxoSmithKline’s top shareholders have contacted its chairman to offer support, following concerns activist hedge fund Elliott Management is preparing to push for a shake-up at the group. Shareholders including BlackRock, Dodge & Cox and Royal London are said to have given their support, the Times first reported. The pharma giant has come under [...]
GSK profit drops sharply due to pandemic but beats forecasts April 28, 2021 Pharma giant GSK saw its profit and turnover slip in the first quarter due to the impact of the coronavirus pandemic, but came in ahead of analyst expectations. The FTSE 100 firm said that adjusted operating profit fell 30 per cent in the period, down to £1.9bn. Turnover slid 18 per cent to £7.4bn, it [...]
GlaxoSmithKline share price leaps at news of activist hedge fund interest April 16, 2021 Shares in GlaxoSmithKline continued to rise on Friday after it emerged that activist hedge fund Elliot Management had built a large stake in the company. New York-based firm Elliot Management, run by billionaire Paul Singer, is believed to have made the multibillion-pound investment earlier this week. GSK was one of the FTSE 100’s biggest risers [...]