GlaxoSmithKline mulls more spinoffs amid a widespread rethink

Months after announcing plans to pursue an IPO for its HIV-focused joint venture, GlaxoSmithKline ($GSK) says it may take a similar tack with some of its other businesses. In an interview with Reuters, GSK chief Andrew Witty said his company is open to breaking up some of its operation if it'll create more shareholder value, modeling its moves on the planned IPO for ViiV Healthcare. GSK is also rolling out a company-wide reorganization, looking to carve £1 billion ($1.6 billion) out of its annual budget, cutting more than 900 jobs and curtailing its R&D budget. News

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