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Next year will be a “landmark” one for GlaxoSmithKline, according to CEO Emma Walmsley — though many of the biggest changes she forecasted may not become evident until next year.

On next year’s agenda: fresh data from clinical trials of a vaccine for respiratory syncytial virus, a very common childhood illness; a Food and Drug Administration decision for daprodustat, GSK’s experimental treatment for a type of anemia; and the de-merger of GSK’s consumer business from its pharmaceutical arm — twenty-one years after the massive merger that created GlaxoSmithKline in the first place.

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Demonstrating some immediate change is also particularly important to GSK, as it is currently the target of some activist investor firms. Among those is Elliott Management Corporation, a notorious hedge fund that has bought up significant stakes in the UK-based company.

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