GSK climbs as structural overhaul revealed
This article was originally published in Scrip
GlaxoSmithKline has announced new plans to get itself back on track after disappointing drug sales and a mounting number of corruption accusations across the globe. Cost reduction strategies in response to the ongoing poor performance of its respiratory portfolio helped deliver third quarter EPS of 27.9p, up 5%. GSK intends to build on this by exploring an IPO of part of ViiV Healthcare, its majority-owned joint venture HIV business, and a further £1bn savings program.