GlaxoSmithKline to Extend its Consumer Healthcare Business by 2022

The GlaxoSmithKline plc (GSK), a global pharmaceutical company has recently announced the strategic separation of the company’s Consumer Health Business, is going to be completed by the mid of 2022, and the company GlaxoSmithKline is going to be focusing on the novel corona virus vaccines and also the specialty medicines.

The shares of the company have also been increased by 2 percent for closing at 39.85 dollars on 23^rd June 2021, and in 2017, the company GSK has also resolved for the purpose of transforming the business model and it has also made some significant progress along with 11 major products within the pharma and vaccines segments, and those changes have been responsible for leading it to the annual cost savings of the half billion dollars.

Emma Walmsley, chief executive officer of GSK said, together, they are now ready for delivering a step-change strategy in the growth for the New GSK and it is also going to unlock the value of the consumer healthcare.

With the help of the world class capabilities of GSK across the treatment and prevention of the disease, the New GSK has been positioned exceptionally well for the purpose of impacting the health of the people in a positive manner and also for delivering some strong values and performance to the shareholders of the company by 2030.

The main focus of New GSK is going to be on the specialty medicines and vaccines, that are expected for contributing around 75 percent of the total sales of the company by 2026.