GSK To Overhaul Emerging Markets Model
Although GSK has seen some difficult times in emerging markets in recent years, CEO Emma Walmsley says it continues to be a key region for the company and plans significant changes to its business there to improve competitiveness and roll out more innovations.
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GlaxoSmithKline has initiated portfolio rationalization measures in India as the British multinational reshapes its emerging markets business model with an eye on driving sustained profitable growth. But the company has also underscored its long-term commitment to the country, where it expects to build on its “strong heritage” and expand patient access.
The axe comes sooner but was not unexpected, given past controversy and a fresh direction under the leadership of GSK's new CEO Emma Walmsley who once spent years in Shanghai, where the company’s China R&D center is located.
Financing for Korean bioventures and pharma firms remained strong this year amid ample liquidity and strong investor sentiment in the sector. SK Bioscience's IPO was the top fundraiser in 2021, followed by HK inno.N’s offering, while GI Innovation raised the most money from venture capital sources.