Good morning, everyone, and welcome to another working week. We hope the weekend respite was relaxing and invigorating, because those oh-so-familiar routine of online calls and deadlines has predictably returned. But what can you do? The world, after all, keeps spinning. Pretty soon, we will be meeting with people face-to-face again, yes? So time to forge ahead with a cup of stimulation — pistachio creme is our choice today — and dig in for another busy day. On that note, here are some tidbits. Hope your day goes swimmingly and do keep in touch…
GlaxoSmithKline (GSK) will lay out plans to boost the spending power of its research-focused pharmaceuticals business at an investor day on Wednesday, as analysts call on the drug maker to boost drug development prospects with takeovers or alliances, Reuters writes. New GSK, the pharma business to be separated from its consumer product operations next year, will cut dividend payouts and shift some debt to the consumer unit, leaving investments to revive its sluggish stock market performance.
But Emma Walmsley, the GlaxoSmithKline chief executive officer, faces a struggle to win over key shareholders after Elliott Management attracted converts for radical change at the company, according to The Financial Times. Elliott has sown doubt about whether Walmsley should stay to push through the transformation planned after it spun off its consumer health division last year. Elliott did not want Walmsley to lead the pharma business and may also be pushing for a separate initial public offering of the vaccine unit.
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