Shares of GlaxoSmithKline climbed in trading on rumors that the consumer health business it intends to spin off into a separate company next year is attracting interest from venture capitalists.
One month after GlaxoSmithKline outlined plans for the company’s future following a planned split between its pharmaceuticals and consumer health businesses, GSK posted second-quarter 2021 sales of £8.1 billion ($11.2 billion).
A day after activist investor Elliott Management called on GlaxoSmithKline to sack Chief Executive Officer Emma Walmsley and line up new leadership for the pharma company when it splits into two entities, GSK’s board of directors soundly rejected the demand.
GlaxoSmithKline will lay out plans to boost the spending power of the company’s research-focused pharmaceuticals business at an investor day on June 23, as analysts call on the British drugmaker to boost drug development prospects with takeovers or alliances.
Omnicom Health Group, the largest healthcare marketing and communications group in the world and part of Omnicom Group Inc., announced the launch of Omni Health on April 20. Omni Health is the first end-to-end healthcare-centric data platform designed for the specific requirements of healthcare marketers and clients.
Takeda Pharmaceutical will divest Takeda Consumer Healthcare Company Limited (TCHC) to The Blackstone Group for $2.3 billion as the company continues to divest non-core business units in order to pare down debt accumulated from its $62 billion acquisition of Shire Plc.
Sanofi is lining up to spin off the active pharmaceutical ingredients division that will include a listing as a public company, Reuters reported, citing unnamed sources.
Johnson & Johnson will stop selling talc Baby Powder in the United States and Canada, saying demand had fallen in the wake of what the company called “misinformation” about the product’s safety amid a barrage of legal challenges.
Moon Rabbit, an independent advertising and marketing agency focused on the consumer and healthcare sectors, announced the expansion of the firm’s U.S. headquarters in New York. Twenty-five new team members joined the agency to serve Moon Rabbit’s growing client base, and the firm moved into an expanded space in SoHo.
GlaxoSmithKline outlined a plan to split the company into two entities over the next two years.