Mul­ti­va­lent mR­NA vac­cines, I/O 3.0, long-act­ing HIV drugs: The $46B game is on for the new Glax­o­SmithK­line

To un­der­stand the new Glax­o­SmithK­line that Em­ma Walm­s­ley is promis­ing to ush­er in, one must see through the old GSK.

“We know this has been a com­pa­ny that has peren­ni­al­ly dis­ap­point­ed when you look at the first half of the last decade,” the CEO said in one of her fi­nal re­marks at the long-an­tic­i­pat­ed in­vestor day.

But af­ter four years of strate­gic trans­for­ma­tion and in­vest­ment, her top team is ready to take the wraps off a shiny new ver­sion of the Big Phar­ma that, among oth­er things, will strive to de­liv­er £33 bil­lion ($46 bil­lion) in an­nu­al sales by 2031. It will start with a planned de­merg­er of the con­sumer health busi­ness in­to a sep­a­rate com­pa­ny in the mid­dle of next year, while the new GSK re­tains a 20% stake as a “short-term fi­nan­cial in­vest­ment.”

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