GSK’s Luke Miels ap­plies bud­get shock ther­a­py to shake up the phar­ma group, re­fo­cus on block­busters

The dra­mat­ic change of cul­ture un­der­way at Glax­o­SmithK­line is back on dis­play this morn­ing.

Reuters’ Ben Hirschler got wind of a de­mand from new phar­ma chief Luke Miels that his man­agers come up with 20% cost sav­ings. They plan to de­vote the sav­ings to con­cen­trate more fire­pow­er on few­er prod­ucts — part of the same “go big or go home” style that CEO Em­ma Walm­s­ley is de­mand­ing on the R&D side of the busi­ness, which is look­ing to score near-term gains with a ramp-up on the on­col­o­gy side.

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