GSK Sees Other Side Of Consumer Health Stockpiling Coin, Looks Ahead To Business Split
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.”
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Major Europe-based consumer health players GSK, Sanofi, Bayer and Reckitt are all hoping for a sales boost in Q2 following a difficult Q1 due to the almost non-existent cough and cold season. This earnings preview highlights what to look out for as these four firms report their second-quarter results over the coming weeks.
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.