LONDON, October 22, 2014 /PRNewswire/ --
Amid continued pricing pressure in the Respiratory business, Sir Andrew Witty, CEO, has announced a restructuring of the pharmaceutical business. In a video interview he said:
"What we've seen and we can identify are a number of opportunities to significantly reduce the cost structure of the organisation."
Witty goes on to say that the company is considering a possible partial IPO of the ViiV business.
Simon Dingemans, CFO, said GSK was seeing "significant price pressure, which has led to overall US sales down 10% for the quarter". However, he adds that this should not obscure the broader geographies and businesses contributing to performance such as Emerging Markets, Japan, and ViiV, as well as an increasingly important contribution from new products.
The video interviews and transcript are available now on http://video.merchantcantos.com/companies/g/glaxosmithkline/.
MerchantCantos produces Executive Interviews, Investor Documentaries and Webcasts with senior management. If you would like to contact us, please email firstname.lastname@example.org or phone +44-207-936-1352.
The interview and transcript are available now on http://www.cantos.com.
MerchantCantos produces in-depth interviews, documentaries and webcasts with senior company executives. If you would like to contact us, please email email@example.com or phone +44-207-936-1352.