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Walmsley Shakes Up GSK; Cuts More Than 30 Drug Development Programs

 
• By Lucie Ellis-Taitt

In her first address as CEO, Emma Walmsley has shocked the market with a long list of changes for GSK, including a total makeover of the group's pharma unit. As a result, more than 30 R&D programs will be getting the axe and a 2011 commercialization partnership with Johnson & Johnson is on its way to the gallows.

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Walmsley to set GSK on a new path with R&D shake up • Source: Shutterstock

During the company's second quarter earning's report, GlaxoSmithKline PLC's new CEO Emma Walmsley outlined key issues for the business over the next three years and set out a series of new priorities, putting the group's pharmaceutical unit at the top of her to-fix list ahead of the consumer health and vaccine units.

The new CEO's corporate overhaul contains many more fireworks than analysts and investors had anticipated. GSK's stock price (London Stock...

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