GSK chief vows 'step change in growth' as consumer business is split off

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British pharmaceutical giant GlaxoSmithKline faces a crunch meeting with investors after announcing a new strategy for the next decade.

The new core drug and vaccine division, which CEO Emma Walmsley has dubbed "New GSK," has set targets of 5% sales growth and 10% profit growth between now and 2026.

The new core drug and vaccine division, which CEO Emma Walmsley has dubbed "New GSK," has set targets of 5% sales growth and 10% profit growth between now and 2026. The separation is expected to take effect in mid-2022. Investors have reacted positively to the plans thus far, with GSK shares up 3% by mid-afternoon trade in Europe.at the company's Capital Markets Day, having been under pressure of late from U.S. activist investor Elliott Management. The virtual session begins at 2 p.m. London time on Wednesday.

 

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