Glaxo open to spinning off consumer healthcare business

|By:, SA News Editor

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.