Activist Investor Urges GSK To Consider Consumer Healthcare Sale
Activist investor Elliot Management – which has built up a sizeable stake in GSK – is urging the UK-based pharma giant to remain open to offers for its Consumer Healthcare business and to consider both internal and external candidates for the leadership of the standalone unit.
You may also be interested in...
GSK says London-based Unilever's £50bn bid for Consumer Healthcare fundamentally undervalues a business which generated sales close to £10bn last year and is expected to grow 4-6% over the medium term. The rejection has not dissuaded Unilever, however, with the company intent on stepping up its presence in the health, beauty and hygiene categories.
Major Europe-based consumer health players GSK, Sanofi, Bayer and Reckitt continue to deal with the fallout of the COVID-19 pandemic while implementing long-term strategies to drive growth. This earnings preview highlights what to look out for as these four firms report their third-quarter results over the coming weeks.
Following a six month selection process, GSK has named Brian McNamara as CEO designate of its standalone Consumer Healthcare business, which will list on the London Stock Exchange next year.