Seeking Alpha

Glaxo open to spinning off consumer healthcare business

  • GlaxoSmithKline’s (NYSE:GSK) chief exec has announced the possibility of spinning off the group's consumer healthcare business in the future, should it offer more value as a standalone company.
  • Sir Andrew Witty outlined that there were no such plans in the near term but is open to the idea of further restructuring.
  • Glaxo has faced many challenges this year, including global bribery scandals and last week's guidance cut due to slipping sales and profit.
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