GlaxoSmithKline's CEO Andrew Witty, who has been accused by major investors of "not doing a very good job" and is in the crosshairs of hedge funds, said in a recent interview in India that it is "difficult to understand how the company is doing because so much has changed."
Lately, GlaxoSmithKline CEO Andrew Witty has seemed open to splitting off the industry-leading consumer health joint venture he formed with Novartis last year. But let Witty be clear: It likely won't happen for a while.
GlaxoSmithKline CEO Andrew Witty may be coming around on a breakup. At the J.P. Morgan Healthcare Conference, Witty said he's open to the idea and pegged his consumer health joint venture with Novartis as a possible option.
GlaxoSmithKline CEO Andrew Witty continues to take heat for moving the U.K. drugmaker heavier into low-margin areas like consumer health and vaccines. But he continues to insist he has it on the right track, that Glaxo has plenty of new drugs on the way that will be first-in-class and sidestep the high price backlash that some competitors are facing.
As GlaxoSmithKline charts a new course to return to growth, investors are willing to give CEO Andrew Witty some time to see it through.
As pharma companies jump left and right at dealmaking opportunities, GlaxoSmithKline CEO Andrew Witty is scratching his head.
Whenever a prominent analyst like Tim Anderson at Bernstein pens a review of a struggling Big Pharma company that asks the question if all hope is lost, you know it will be a painful read for any remaining true believers. GlaxoSmithKline and its embattled CEO Andrew Witty came in for that treatment a few days ago. And even if Anderson's answer was a qualified no, you can hear the clock ticking as the market waits for some kind of sign that there's a coherent plan taking shape to move forward decisively.
GlaxoSmithKline planted its flag in Singapore to build on a close relationship with the government of the wealthy city-state where CEO Andrew Witty worked and lived earlier in his career with the U.K. drugmaker.
2014 was a tough year for GlaxoSmithKline. Its revenues and profits were off significantly. Its operating profit was off nearly 50% in pounds--and, as it turns out, so was CEO Andrew Witty's pay. In fact he took a 46% whack to his compensation.
Last week, GlaxoSmithKline CEO Andrew Witty told reporters something investors have long been hoping to hear: The company's respiratory newcomers are picking up steam.