- June 21, 2021
- Posted by: Stratford Team
- Category: Business
- GSK hopes June 23 investor day will mark turnaround for shares
- New pharma-focused GSK will slash dividends, cut debt
- Analysts encourage GSK to purchase external drug assets
- Executive Luke Miels points to upcoming pipeline trial results
FRANKFURT, June 21 (Reuters) – GlaxoSmithKline (GSK.L) 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 British drugmaker to boost drug development prospects with takeovers or alliances.
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 scope for investments to revive its sluggish stock market performance.
GSK’s share price has fallen 14% over the past 12 months versus a…