GlaxoSmithKline PLC is bracing for a challenging year in 2015, having made deep concessions on the price of its top-selling drug, Advair, in order to secure contracts with U.S. payers. Now it is battening down the hatches in preparation and looking outside the box at new ways to extract shareholder value.
GSK Reveals Big Changes As 2015 Growth Prospects Fizzle
GlaxoSmithKline’s all important asthma drug, Advair, has taken a hit and the impact is bleeding out to the rest of the business. As GSK braces for a challenging 2015, the company announced a £1 billion cost savings program and plans to explore an IPO for its HIV subsidiary ViiV Healthcare.