Watch this space24 Apr 2021 13:11
Hedge fund Elliott Management, which has a history of agitating for change at troubled pharma companies, has taken a “significant” position in GSK, as of December 31, 2020, Elliott manages approximately $41.8 billion in assets.
Glaxo are in trouble their sales are declining they were once 3rd largest pharmaceutical company in the world now they are 14th.
3 December 2018, GSK announced that Unilever would acquire the Indian-listed GlaxoSmithKline Consumer Healthcare business for US$3.8Â billion (ÂŁ2.98Â billion). Unilever will pay the majority of the deal in cash.
The same day, the company also announced it would acquire oncology specialist, Tesaro, for US$5.1Â billion. The deal will give GSK control of ovarian cancer treatment.
Tesaro only had 1 drug on market and a small pipeline
GSK is to split the company into two entities over the next two years. One entity will focus on pharmaceuticals and drug development, while the other will be aimed at consumer healthcare.
GSK, an R&D-focused company that will have a keen interest in programs related to the immune system, use of genetics,
After the split GSK pharmaceuticals would have a huge cash pile and with the Elliot fund on board would be on the acquisition trail.
Avacta would be a great asset to GSK after they split. The Affimer platform would help bolster their sales and keep its huge R&D department busy.
The Diagnostics side would also fit in the new look GSK
Avacta has a lot of history with GSK just look at the Avacta board Ex -GSK
GSK know about these affirmers and have probably been watching
Avacta Board Members
GSK connection.
Eliot Forster
Non Executive Chairman
The early part of Dr Forster’s career was at GSK and then he went on to hold a number of senior roles in Pfizer.
Paul Fry
Non Executive Director
Paul has also served as Director of Global Finance Operations at Vodafone plc and spent more than 25 years at GlaxoSmithKline (“GSK”), where he held a number of senior roles including Head of Global Finance Services and Chief Financial Officer for GSK’s Italian pharmaceutical business.
Mike Owen
Senior Independent Director & Scientific Advisory Board Chairman
Dr Owen was Senior Vice President and global Head of Research of the Biopharmaceuticals R&D Unit at GlaxoSmithKline and was responsible for initiating and rapidly growing GSK’s robust pre-clinical and clinical therapeutic antibody pipeline during the last decade through in-house development as well as through acquisitions such as Domantis.
Amrik Basran
Chief Scientific Officer
Domantis was acquired by GSK in 2006, after which he became Head of Topical Delivery (Biopharm Discovery Unit), supporting the development of biotherapeutics across the GSK portfolio.
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