Glaxo Executive Confident New Drugs Will Bolster Sales: Times
GlaxoSmithKline Plc has a pipeline of HIV drugs that will help to replace billions of dollars in expected revenue losses arising from competition from generic drugmakers, a senior executive at the firm told the Times of London.
Deborah Waterhouse, who runs Glaxo’s HIV joint venture, ViiV Healthcare, told the newspaper she’s confident that an emerging, long-lasting treatment for the virus will help to offset revenue losses as patents expire for the company’s dolutegravir, the most used HIV medicine in the world.
Her comments come as the pharmaceutical giant faces mounting pressure from investors to revive its fortunes. As one of the world’s biggest vaccine makers, its lack of a Covid-19 inoculation disappointed some analysts. It’s preparing to split in 2022, spinning off its consumer unit and leaving the remaining company focused on biopharma and vaccines.
Chief Executive Officer Emma Walmsley has pledged to give a “clear view” of the company’s strategy at an investor briefing next week. She’s faced questions over whether shareholders would push for her to lead the consumer business, which she previously ran, rather than the drugs and vaccines operation.
Waterhouse told the Times she backs Walmsley, saying that she was “very happy with where we are,” but didn’t want to “speculate on what will happen in the future.”
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