GSK quashes reports of private equity interest in consumer health division October 27, 2021 Pharmaceuticals giant GSK has stuck to its plan to spin off its consumer health division next year as it released its third quarter results this afternoon, quashing reports that private equity giants were plotting to swoop in on the business. GSK has pressed ahead with its plan to spin off its consumer health division in [...]
GSK waves goodbye to West London as breakup begins with new £120m HQ October 11, 2021 GlaxoSmithKline will move its global headquarters to a new £120m site, as the pharmaceutical giant prepares to split up its empire into two separate businesses. The company today announced plans for a shiny new £120m headquarters in Weybridge for its new independent consumer healthcare company. Remaining pharmaceuticals and vaccine staff will also relocate from the [...]
Hedge fund boss makes shock appearance at GSK investor call to pile pressure on CEO October 10, 2021 Hedge fund boss Gordon Singer dramatically questioned the leadership of GlaxoSmithKline chief executive Emma Walmsley at a virtual investor meeting. Singer, head of Elliott Investment Management’s London office, demanded an answer as to why the drug company’s share price had slumped below pre-Covid levels. Around 50 top investors were present at the private virtual event, [...]
GSK to begin phase 3 trial of Covid-19 vaccine August 31, 2021 GlaxoSmithKline (GSK) has announced it will begin the third phase of trials for a Covid-19 vaccine developed in collaboration with SK bio. The move to phase three follows positive interim results from preliminary trials which showed that 100 percent of candidates who received the vaccine developed antibodies. Levels of neutralising antibodies were between five and [...]
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 [...]