GSK To Downplay Europe Because of Poor Innovation Support, Focuses On U.S. and Japan Instead

07 Feb 2012

• By John Davis

GSK CEO Andrew Witty is scathing about the lack of support in Europe for innovation, and the company will now prioritize the U.S., Japan and emerging markets for the development of new products

Claiming that Europe was "stuck in a bad place", because of the macro-economic issues it faces, GlaxoSmithKline PLC's CEO Andrew Witty believes the U.S. and Japan are currently the world's "core innovation markets.”

Although GSK will still develop products for Europe, the priority going forward would be to design them for other markets,...