News | News By Subject | News by Disease News By Date | Search News
Get Our FREE
Industry eNewsletter
email:    
   

GlaxoSmithKline (GSK) Can Afford to be Picky



6/24/2013 10:08:10 AM

Get the latest biotech news where you want it. Sign up for the free GenePool newsletter today!

Disposals are trumping acquisitions as GlaxoSmithKline slims down ready for a wave of its new medicines to reach the market. Britain's biggest drugmaker expects to sell operations this year with revenue of around 1 billion pounds ($1.5 billion) - roughly the same as the volume of business acquired in the past five years. It is a mismatch that Chief Executive Andrew Witty is happy to see continue as the company becomes more focused, increasing its leverage to new drugs coming down the pipe. "I think our proceeds from divestments will far exceed our acquisition costs," Chief Executive Andrew Witty told Reuters in an interview. "The size of this company will be dictated by the success of the pipeline and we will continue to clip off bits of the business that we think are not core or are drags."

Help employers find you! Check out all the jobs and post your resume.

Read at Reuters


comments powered by Disqus
Reuters
   

ADD TO DEL.ICIO.US    ADD TO DIGG    ADD TO FURL    ADD TO STUMBLEUPON    ADD TO TECHNORATI FAVORITES