Fighting back: GSK boss Emma Walmsley
GlaxoSmithKline’s boss is fighting back against activists investors and getting ready for human trials to test an HIV cure.
British drug giant, British Drugs, hopes to begin ground-breaking clinical trials by next summer. Today’s update will be provided to the City regarding its potential treatment for the disease.
GSK is making a new move to win over activist investors. Earlier this month it announced a triple whammy of good news, as reported by the Daily Mail, when it received UK approval for a separate long-lasting HIV drug, signed a £743m contract with the US for Covid treatments, and won EU backing to put its asthma jab to further uses.
GSK’s chief executive, Emma Walmsley (Dame Emma Walmsley), is trying shake off activist investor Elliott Management.
GSK HIV was criticised by the hedge fund, who claimed it was often met with a shrug from investors. Investors were concerned that the business would be unable to continue its exclusivity on one of its drugs over the next eight year.
Elliott is referring to Walmsley as she wants to manage GSK’s pharma division after the split with its consumer arm. Elliott said that Walmsley should reapply to be considered for the position.
GSK’s HIV division Viiv today will try to show investors its worth by updating them on progress made in finding a possible cure.