LONDON, April 22 (Reuters) - GlaxoSmithKline saidthe group's deal with Novartis narrowed its focus onthe key areas of vaccines, respiratory, consumer and HIVmedicines, and could be followed by the disposal of itsportfolio of older drugs.
Chief Executive Andrew Witty said the core areas made up 70percent of the business and it was accelerating a review of itsestablished product portfolio that made up about half of therest.
"You should not be surprised if we were able to transact adisposal of some of that established product portfolio in thenext year or two," he told reporters on a conference call. "Thatis not part of our future."
The British company announced a multi-part deal on Mondaythat sees GlaxoSmithKline take the lead in running a consumerhealth business with Novartis, while selling its oncology unitto the Swiss company.
Witty said he continued to rule out traditional large-scaleM&A deals, in which large drugs company are bolted together,instead favouring other tie-ups that focused on areas in whichGlaxoSmithKline could be a leading player. (Reporting by Paul Sandle, Editing by Belinda Goldsmith)