Glaxo review could see it sell Ribena and Lucozade
GlaxoSmithKline could sell Lucozade and Ribena after Britain’s biggest pharmaceuticals firm today set out plans for a “strategic review” of the drinks brands.
The drugmaker’s chief executive, Sir Andrew Witty, said he was focused on the “two places where there are cast-iron synergies between pharma and the consumer business, which are over-the-counter medicines, such as Panadol, and emerging markets.
Lucozade and Ribena are iconic brands, but don’t naturally fit into those two places.
Witty said its review, which will be complete by the middle of this year, involved “truly no decisions taken or options ruled out — we could increase investments in certain parts of the world, find a partner, or divest the products.”
The announcement came as GSK suffered from European governments cutting back on healthcare and drugs spending, with annual turnover falling 1% to £26.4 billion in 2012, and pre-tax profits slipping 4% to £7.6 billion.
Total sales in emerging markets now account for just over a quarter of GSK’s business.
- 1 Universities aren't working us hard enough, say undergraduates
- 2 Lego letter from the 1970s still offers a powerful message to parents 40 years later
- 4 Woman opens professional cuddling shop – gets 10,000 customers in first week
- 5 Grayson Perry: London needs affordable housing because 'rich people don't create culture'
Oscar Pistorius terrorised Reeva before he shot her dead, says June Steenkamp
Audacious North Korean kidnap plot foiled at Paris airport as 'Asian men' attempted to bundle student onto plane
Heroin to be prescribed to Canadian addicts by doctors
Tower Bridge glass walkway 'smashed' by night-time visitor dropping bottle of beer
The young are the new poor: Sharp increase in number of under-25s living in poverty, while over-65s are better off than ever
Rochester by-election: Ukip gains second MP as Tory defector Mark Reckless holds seat
'Beast of Bolsover' Dennis Skinner takes Ukip MP Mark Reckless to task moments after he is sworn in
Rochester by-election: Labour MP Emily Thornberry resigns after posting white van and England flags tweet
France 'blocks' Russian sailors from boarding a warship
Rochester aftermath: Sacking of Emily Thornberry will make work of Labour MPs '10 times harder'
Exclusive: UK approved £7m Israeli arms sales in six months before Gaza conflict
iJobs Money & Business
$80000 - $110000 per annum, Benefits: Bonus and Employee Investment Scheme: Se...
€30000 - €50000 per annum, Benefits: Competitive Bonus: Selby Jennings: Java D...
$60000 - $90000 per annum, Benefits: Competitive Bonus and Employee Investment ...
circa 65,000 EUR + Bonus + Benefits: Selby Jennings: Recruiting a Sales Associ...