GSK poaches top talent for R&D – Walmsley’s mission continues
Emma Walmsley, new CEO of healthcare giant GlaxoSmithKline (GSK) is continuing her aggressive pursuance of key players in the industry to develop a first rate R&D showing. This time, she’s poached Kevin Sin, an ex-Genentech exec who will become senior vice president and head of worldwide business development for pharmaceuticals R&D. In other words, he’ll be on the hunt for pipeline deals. In a press release, GSK described the position in the following way: “He will play a critical role in strengthening GSK’s pharmaceutical pipeline and identifying enabling technologies to enhance delivery of innovative new medicines for patients.”
Investors are rewarding Emma Walmsley’s leadership so far in 2018
SOURCE: Yahoo Finance
Sin also released a statement over the appointment, saying:
“I am thrilled to be joining GSK at such an exciting time and important stage of the company’s growth. The incredible pace of scientific and technical innovation that is happening around the world is significant and presents an abundance of opportunities to combine GSK’s strengths and capabilities with that of others to pursue big ideas in science and medicine. I look forward to working with the team to explore collaborations that can accelerate the discovery and development of new medicines with the potential to significantly improve human health.”
Walmsley has always been forthright about her desire to shake up GSK’s R&D platform. She’s sold off bits here, added bits there, restructured leadership teams and priorities, and promised to scrap “more than 30 drug development programs” that she felt were a waste of time and money. As a result, 80% of GSK’s R&D budget can be spent researching the “top candidates” in its four therapeutic areas.
Walmsley’s quest is far from over, but investors have responded well to her so far, sending the company’s share price up by 16% in the first four months of the year. Sin’s appointment is the next step on a long, but potentially profitable, road.
Dominion holds GlaxoSmithKline in its Global Trends Managed Fund.
If you would you like to receive the Newsfeeds daily, please click here to sign up now!Help us make this Newsfeed better by rating this article. 1 star = Poor and 5 stars = Excellent
- Click here to print this story: Print
The views expressed in this article are those of the author at the date of publication and not necessarily those of Dominion Fund Management Limited. The content of this article is not intended as investment advice and will not be updated after publication. Images, video, quotations from literature and any such material which may be subject to copyright is reproduced in whole or in part in this article on the basis of Fair use as applied to news reporting and journalistic comment on events.