GSK Consumer Separation On Track For Summer '22
COVID-19 has not held back GSK's preparations to create the world's largest standalone consumer health business, with CEO Emma Walmsley confirming separation is on track for summer next year.
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Key investors have pledged more patience in CEO Walmsley’s turnaround but they will be expecting a convincing vision of the future, more dynamic, GSK.
GSK’s share price is down by 15% since Walmsley took over as CEO, but major investors are said to be resisting calls for a radical re-think in its strategy.
GSK reports pandemic-related stockpiling in 2020 combined with a weak cold and flu season in Q1 drove its consumer health sales down 9%, with the sharpest downturn in respiratory products sales. The firm expects in the second half of the year to see “more normal consumer trends.”