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GlaxoSmithKline's new boss streamlines drug research

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GlaxoSmithKline's new boss streamlines drug research

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LONDON (Reuters) – GlaxoSmithKline’s <GSK.L> new Chief Executive Emma Walmsley announced plans on Wednesday to streamline drug research in a bid to improve returns in the group’s core pharmaceuticals business. Walmsley, who took over in April, said GSK would allocate capital to priority areas including respiratory and HIV and infectious diseases, and two potential areas of oncology and immuno-inflammation. More than 30 pre-clinical and clinical programmes will be stopped. The announcement came as Britain’s biggest drugmaker reported a 12 percent rise in adjusted earnings per share in sterling terms to 27.2 pence on sales up 12 percent at 7.32 billion pounds. Analysts, on average, had forecast sales of 7.26 billion pounds and EPS of 26.2p, according to Thomson Reuters data.

(Reporting by Kate Holton, editing by Louise Heavens)
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