CEO Witty's Argues that GlaxoSmithKline's Toothpaste Biz Alone Can Cover Dividend Pay to Investors
Teeth aren’t the only thing Sensodyne toothpaste can protect from pain and erosion. The 55-year-old product holds the promise of delivering a similar service to GlaxoSmithKline Plc’s shareholders.
The toothpaste is part of a consumer-health business that could in a few years generate enough cash to cover half the dividend Glaxo pays to investors, Chief Executive Officer Andrew Witty said in an interview. The division, a joint venture with Novartis AG controlled by London-based Glaxo, is likely to deliver as much as 10 billion pounds ($14.4 billion) in revenue, he said.
The toothpaste is part of a consumer-health business that could in a few years generate enough cash to cover half the dividend Glaxo pays to investors, Chief Executive Officer Andrew Witty said in an interview. The division, a joint venture with Novartis AG controlled by London-based Glaxo, is likely to deliver as much as 10 billion pounds ($14.4 billion) in revenue, he said.